Olin Co. (NYSE:OLN) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in shares of Olin Co. (NYSE:OLN) by 55.5% during the 4th quarter, HoldingsChannel reports. The firm owned 143,062 shares of the specialty chemicals company’s stock after purchasing an additional 51,051 shares during the period. Harbor Capital Advisors Inc.’s holdings in Olin were worth $4,835,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC increased its position in Olin by 6.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock valued at $424,095,000 after acquiring an additional 531,330 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Olin by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after purchasing an additional 194,755 shares during the last quarter. Pzena Investment Management LLC grew its position in Olin by 24.8% in the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after buying an additional 685,710 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Olin by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after buying an additional 37,043 shares during the period. Finally, Franklin Resources Inc. raised its position in Olin by 19.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock worth $51,015,000 after buying an additional 172,768 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OLN. Citigroup dropped their price target on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. KeyCorp cut their target price on Olin from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets decreased their price target on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler dropped their price objective on Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Barclays reduced their target price on Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.00.

Olin Trading Down 2.4 %

Shares of OLN opened at $31.02 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin Co. has a 1-year low of $30.95 and a 1-year high of $60.60. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The firm has a 50 day simple moving average of $38.39 and a 200-day simple moving average of $42.62.

Olin declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. Olin’s dividend payout ratio (DPR) is 64.52%.

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.