LPL Financial LLC Has $4.68 Million Stock Position in Olin Co. (NYSE:OLN)

LPL Financial LLC boosted its holdings in shares of Olin Co. (NYSE:OLN) by 218.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,477 shares of the specialty chemicals company’s stock after acquiring an additional 95,054 shares during the period. LPL Financial LLC owned approximately 0.12% of Olin worth $4,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management grew its position in shares of Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 1,150 shares during the period. Jones Financial Companies Lllp increased its position in shares of Olin by 59.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 911 shares in the last quarter. Blue Trust Inc. increased its position in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after acquiring an additional 738 shares in the last quarter. Crews Bank & Trust bought a new stake in Olin in the 4th quarter valued at $153,000. Finally, KBC Group NV boosted its stake in Olin by 82.9% in the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 2,476 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OLN shares. Piper Sandler reduced their price objective on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada cut shares of Olin from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. Truist Financial cut their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and decreased their target price for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, KeyCorp reduced their price objective on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average price target of $35.44.

Olin Stock Performance

NYSE:OLN opened at $22.08 on Thursday. Olin Co. has a 1-year low of $17.66 and a 1-year high of $57.77. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock has a market cap of $2.54 billion, a P/E ratio of 24.53 and a beta of 1.50. The stock has a 50 day simple moving average of $25.06 and a 200 day simple moving average of $34.66.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Research analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin declared that its Board of Directors has initiated a share repurchase program on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.62%. Olin’s dividend payout ratio is 88.89%.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.