KLCM Advisors Inc. grew its stake in Olin Corporation (NYSE:OLN – Free Report) by 4,992.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 467,161 shares of the specialty chemicals company’s stock after purchasing an additional 457,987 shares during the quarter. KLCM Advisors Inc.’s holdings in Olin were worth $9,731,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of OLN. Strategic Advocates LLC acquired a new stake in shares of Olin in the third quarter valued at about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin in the first quarter valued at about $32,000. Bessemer Group Inc. grew its position in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the period. Allworth Financial LP grew its position in shares of Olin by 114.0% in the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares during the period. Finally, Spire Wealth Management grew its position in shares of Olin by 58.7% in the fourth quarter. Spire Wealth Management now owns 2,739 shares of the specialty chemicals company’s stock valued at $57,000 after purchasing an additional 1,013 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. UBS Group lifted their target price on shares of Olin from $21.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Royal Bank Of Canada set a $30.00 target price on shares of Olin and gave the company a “sector perform” rating in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $26.00 target price on shares of Olin in a research report on Tuesday, February 10th. Finally, Truist Financial lifted their target price on shares of Olin from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.50.
Insiders Place Their Bets
In related news, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the transaction, the vice president directly owned 1,528 shares in the company, valued at approximately $37,054. The trade was a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.
Olin Stock Performance
OLN opened at $28.46 on Tuesday. The firm has a market capitalization of $3.24 billion, a PE ratio of -25.41 and a beta of 1.21. Olin Corporation has a twelve month low of $18.08 and a twelve month high of $30.46. The firm’s 50-day moving average price is $26.93 and its 200 day moving average price is $23.74. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.
Olin Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Olin’s payout ratio is presently -71.43%.
Olin Profile
Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.
In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.
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