Alberta Investment Management Corp Makes New $660,000 Investment in Olin Co. (NYSE:OLN)

Alberta Investment Management Corp purchased a new position in shares of Olin Co. (NYSE:OLN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,520 shares of the specialty chemicals company’s stock, valued at approximately $660,000.

A number of other institutional investors have also recently bought and sold shares of OLN. Blue Trust Inc. boosted its stake in Olin by 63.9% during the third quarter. Blue Trust Inc. now owns 2,149 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 838 shares in the last quarter. Raymond James & Associates boosted its stake in Olin by 10.7% during the third quarter. Raymond James & Associates now owns 192,826 shares of the specialty chemicals company’s stock worth $9,252,000 after buying an additional 18,606 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Olin during the third quarter worth $318,000. International Assets Investment Management LLC boosted its stake in Olin by 4,698.0% during the third quarter. International Assets Investment Management LLC now owns 9,596 shares of the specialty chemicals company’s stock worth $460,000 after buying an additional 9,396 shares in the last quarter. Finally, Highland Capital Management LLC boosted its stake in Olin by 22.7% during the third quarter. Highland Capital Management LLC now owns 97,739 shares of the specialty chemicals company’s stock worth $4,690,000 after buying an additional 18,110 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

Shares of OLN stock opened at $26.89 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The stock has a market cap of $3.14 billion, a PE ratio of 29.88 and a beta of 1.45. The stock has a 50-day moving average of $31.50 and a 200-day moving average of $39.19. Olin Co. has a one year low of $26.48 and a one year high of $60.60.

Olin (NYSE:OLN) last announced 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 return on equity of 5.10% and a net margin of 1.66%. As a group, sell-side analysts expect that Olin Co. will post 1.38 earnings per share for the current year.

Olin declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Insider Activity

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares of the company’s stock, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OLN shares. Piper Sandler downgraded shares of Olin from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $33.00 in a research note on Thursday, February 13th. Royal Bank of Canada downgraded shares of Olin from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. Truist Financial reduced their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company restated an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. Finally, Morgan Stanley reduced their target price 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.44.

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.