Boston Partners Sells 513,673 Shares of Olin Co. (NYSE:OLN)

Boston Partners decreased its position in Olin Co. (NYSE:OLN) by 11.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,790,241 shares of the specialty chemicals company’s stock after selling 513,673 shares during the quarter. Boston Partners’ holdings in Olin were worth $127,777,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OLN. Spire Wealth Management grew its holdings 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 worth $55,000 after purchasing an additional 1,150 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Olin by 59.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after purchasing an additional 911 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after purchasing an additional 738 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Olin in the 4th quarter worth about $153,000. Finally, KBC Group NV lifted its position in Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 2,476 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Up 0.7 %

Olin stock opened at $25.09 on Wednesday. The company’s 50 day simple moving average is $28.53 and its 200 day simple moving average is $37.05. Olin Co. has a fifty-two week low of $22.98 and a fifty-two week high of $60.60. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 27.88 and a beta of 1.61. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

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

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

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.19%. The ex-dividend date was Thursday, March 6th. Olin’s payout ratio is 88.89%.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the purchase, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OLN shares. Truist Financial reduced their price target 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. JPMorgan Chase & Co. downgraded shares of Olin from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. UBS Group set a $28.00 price target on shares of Olin in a research report on Thursday, February 27th. Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, Barclays reiterated an “equal weight” rating on shares of Olin in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.38.

Olin 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.