Yacktman Asset Management LP Has $131.75 Million Holdings in Olin Co. (NYSE:OLN)

Yacktman Asset Management LP trimmed its holdings in Olin Co. (NYSE:OLN) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,897,996 shares of the specialty chemicals company’s stock after selling 21,961 shares during the period. Olin makes up 1.5% of Yacktman Asset Management LP’s holdings, making the stock its 26th largest holding. Yacktman Asset Management LP’s holdings in Olin were worth $131,752,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in OLN. Farther Finance Advisors LLC increased its stake in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the period. Covestor Ltd grew its holdings in shares of Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 715 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Olin in the third quarter worth $47,000. Spire Wealth Management grew its stake in Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 1,150 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after buying an additional 318 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets reduced their target price on Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Citigroup lowered their target price on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Morgan Stanley reduced their price target on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. Barclays lowered their price objective on shares of Olin from $43.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on shares of Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average target price of $40.94.

Olin Stock Performance

NYSE:OLN opened at $28.16 on Tuesday. The company has a market capitalization of $3.28 billion, a PE ratio of 31.29, a P/E/G ratio of 0.91 and a beta of 1.45. Olin Co. has a fifty-two week low of $26.48 and a fifty-two week high of $60.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The company has a 50 day simple moving average of $34.03 and a two-hundred day simple moving average of $40.31.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Research analysts anticipate that Olin Co. will post 1.83 earnings per share for the current year.

Olin announced that its board has authorized a stock repurchase plan on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About Olin

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.