Olin Co. (NYSE:OLN) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC cut its holdings in shares of Olin Co. (NYSE:OLN) by 72.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,718 shares of the specialty chemicals company’s stock after selling 23,039 shares during the period. Lmcg Investments LLC’s holdings in Olin were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC increased its stake in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 276 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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 acquiring an additional 318 shares in the last quarter. Entropy Technologies LP boosted its stake in shares of Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after acquiring an additional 332 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Olin by 3.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Olin by 14.4% in the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock valued at $240,000 after purchasing an additional 630 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the sale, the vice president now owns 24,056 shares of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

Olin Stock Up 1.9 %

Shares of NYSE:OLN opened at $34.43 on Wednesday. The business has a 50-day moving average price of $37.19 and a 200 day moving average price of $41.98. Olin Co. has a 12-month low of $30.69 and a 12-month high of $60.60. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 0.76 and a beta of 1.48.

Olin announced that its board has initiated a stock buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, November 14th. Olin’s dividend payout ratio (DPR) is 64.52%.

Analyst Ratings Changes

OLN has been the subject of a number of research reports. Royal Bank of Canada dropped their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Piper Sandler dropped their price objective on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and cut their price objective for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. Barclays dropped their price target on Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, KeyCorp reduced their price objective on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.07.

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.