Kenneth Todd Lane Purchases 7,250 Shares of Olin Co. (NYSE:OLN) Stock

Olin Co. (NYSE:OLN) CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The shares were purchased 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 owns 7,250 shares of the company’s stock, valued at $203,435. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Olin Price Performance

Shares of OLN stock traded up $1.40 on Thursday, reaching $28.11. The company had a trading volume of 1,222,644 shares, compared to its average volume of 1,693,440. The business’s 50-day moving average is $34.92 and its 200 day moving average is $40.73. Olin Co. has a one year low of $26.48 and a one year high of $60.60. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $3.28 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating 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%. Equities research analysts forecast that Olin Co. will post 2.47 EPS for the current fiscal year.

Olin announced that its Board of Directors has authorized a share repurchase program on Thursday, December 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group lowered their price objective on Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada lowered shares of Olin from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $45.00 to $30.00 in a research report on Tuesday. Truist Financial cut their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday. KeyCorp lowered their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and dropped their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Olin has an average rating of “Hold” and a consensus target price of $40.94.

Hedge Funds Weigh In On Olin

Institutional investors and hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC boosted its stake in shares of Olin by 24.8% during the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after purchasing an additional 685,710 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Olin by 6.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after buying an additional 531,330 shares during the period. Verition Fund Management LLC grew its holdings in Olin by 70.9% during the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock worth $26,140,000 after acquiring an additional 225,930 shares during the last quarter. Franklin Resources Inc. increased its position in Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after acquiring an additional 172,768 shares during the period. Finally, Holocene Advisors LP raised its stake in shares of Olin by 504.9% during the third quarter. Holocene Advisors LP now owns 167,186 shares of the specialty chemicals company’s stock valued at $8,022,000 after acquiring an additional 139,549 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.