Amalgamated Bank Buys 552 Shares of Olin Co. (NYSE:OLN)

Amalgamated Bank boosted its stake in Olin Co. (NYSE:OLN) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 86,672 shares of the specialty chemicals company’s stock after acquiring an additional 552 shares during the period. Amalgamated Bank’s holdings in Olin were worth $4,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the company. Pzena Investment Management LLC lifted its stake in shares of Olin by 15.6% in the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock worth $146,974,000 after purchasing an additional 397,050 shares during the period. Luminus Management LLC lifted its position in Olin by 119.6% during the third quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock valued at $26,227,000 after purchasing an additional 285,789 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Olin by 21.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock worth $58,954,000 after buying an additional 206,398 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Olin by 139.4% in the third quarter. Hsbc Holdings PLC now owns 259,923 shares of the specialty chemicals company’s stock worth $12,947,000 after buying an additional 151,342 shares during the period. Finally, Rovida Advisors Inc. purchased a new position in shares of Olin during the 3rd quarter valued at about $4,998,000. Institutional investors own 88.67% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total value of $2,561,661.44. Following the transaction, the chief executive officer now directly owns 90,327 shares in the company, valued at approximately $4,732,231.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Olin news, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $52.46, for a total transaction of $786,900.00. Following the completion of the transaction, the vice president now owns 8,782 shares in the company, valued at approximately $460,703.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the sale, the chief executive officer now owns 90,327 shares in the company, valued at $4,732,231.53. The disclosure for this sale can be found here. Insiders sold a total of 78,896 shares of company stock valued at $4,136,061 over the last 90 days. 1.80% of the stock is owned by company insiders.

Olin Stock Up 2.4 %

Shares of NYSE OLN opened at $55.98 on Wednesday. Olin Co. has a 1 year low of $41.71 and a 1 year high of $60.60. The company has a market capitalization of $6.69 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.31 and a beta of 1.48. The company has a 50 day simple moving average of $55.84 and a 200-day simple moving average of $51.95. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80.

Olin (NYSE:OLN) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. On average, equities research analysts predict that Olin Co. will post 3.68 earnings per share for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analysts Forecast Growth

OLN has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, April 29th. UBS Group increased their price target on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Barclays boosted their price objective on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. The Goldman Sachs Group lifted their target price on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada decreased their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.00.

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.