OLD National Bancorp IN Makes New $361,000 Investment in Olin Co. (NYSE:OLN)

OLD National Bancorp IN bought a new stake in shares of Olin Co. (NYSE:OLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,695 shares of the specialty chemicals company’s stock, valued at approximately $361,000.

A number of other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Olin by 14.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,067 shares of the specialty chemicals company’s stock valued at $1,191,000 after acquiring an additional 2,776 shares during the last quarter. Ergawealth Advisors Inc. acquired a new position in shares of Olin during the fourth quarter valued at approximately $216,000. Crumly & Associates Inc. increased its holdings in shares of Olin by 30.7% in the fourth quarter. Crumly & Associates Inc. now owns 9,620 shares of the specialty chemicals company’s stock valued at $519,000 after purchasing an additional 2,258 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Olin in the fourth quarter valued at approximately $1,856,000. Finally, ORG Partners LLC increased its holdings in shares of Olin by 1,100.0% in the fourth quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Trading Down 0.9 %

OLN opened at $53.08 on Thursday. Olin Co. has a 52 week low of $41.71 and a 52 week high of $60.60. The business has a fifty day simple moving average of $55.61 and a 200-day simple moving average of $51.58. The firm has a market cap of $6.35 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. Olin had a return on equity of 18.44% and a net margin of 6.74%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.50 billion. On average, equities analysts expect that Olin Co. will post 3.75 earnings per share for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were issued a $0.20 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. Olin’s dividend payout ratio (DPR) is presently 22.60%.

Insider Activity at Olin

In related news, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Olin news, CFO Todd A. Slater sold 63,250 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the sale, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value 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. Over the last three months, insiders sold 753,274 shares of company stock worth $40,434,124. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, April 3rd. UBS Group increased their price target on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, January 26th. The Goldman Sachs Group increased their price target on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Citigroup increased their price target on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Stifel Nicolaus increased their price target on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Olin currently has a consensus rating of “Hold” and an average price target of $59.33.

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.