Citizens National Bank Trust Department Sells 2,520 Shares of Olin Co. (NYSE:OLN)

Citizens National Bank Trust Department lowered its stake in shares of Olin Co. (NYSE:OLN) by 34.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,887 shares of the specialty chemicals company’s stock after selling 2,520 shares during the quarter. Citizens National Bank Trust Department’s holdings in Olin were worth $165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OLN. Farther Finance Advisors LLC raised its position in shares of Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares during the last quarter. Covestor Ltd grew its holdings in shares of Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 715 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Olin in the third quarter valued at $47,000. Spire Wealth Management grew its holdings in shares of Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Price Performance

Shares of OLN opened at $27.68 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The company has a 50 day moving average price of $31.92 and a 200-day moving average price of $39.39. Olin Co. has a fifty-two week low of $26.48 and a fifty-two week high of $60.60. The stock has a market capitalization of $3.23 billion, a PE ratio of 30.76 and a beta of 1.45.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Equities analysts predict that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin declared that its board has approved a stock repurchase program on Thursday, December 12th that permits the company to buyback $2.00 billion in 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 generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lowered shares of Olin from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $45.00 to $30.00 in a report on Tuesday, February 4th. KeyCorp cut their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. BMO Capital Markets dropped their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered shares of Olin from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $33.00 in a research note on Thursday, February 13th. Finally, Barclays dropped their price objective on shares of Olin from $43.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.44.

Insider Buying and Selling at Olin

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

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.