Crews Bank & Trust Buys New Shares in Olin Co. (NYSE:OLN)

Crews Bank & Trust purchased a new position in shares of Olin Co. (NYSE:OLN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,513 shares of the specialty chemicals company’s stock, valued at approximately $153,000.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of 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 during the last quarter. Covestor Ltd increased its stake in Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 715 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Olin in the 3rd quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 318 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Olin by 4,862.5% in the 3rd quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company’s stock valued at $76,000 after purchasing an additional 1,556 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of Olin from $41.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Truist Financial assumed coverage on shares of Olin in a research note on Tuesday. They issued a “hold” rating and a $38.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Barclays lowered their price target on Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Finally, Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.44.

Olin Stock Down 9.0 %

OLN stock opened at $29.24 on Friday. 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 firm has a 50 day simple moving average of $35.52 and a 200-day simple moving average of $41.16. The company has a market capitalization of $3.41 billion, a P/E ratio of 23.58, a PEG ratio of 0.77 and a beta of 1.48. Olin Co. has a twelve month low of $28.80 and a twelve month high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 2.33% and a return on equity of 6.19%. On average, equities research analysts predict that Olin Co. will post 0.95 earnings per share for the current fiscal year.

Olin declared that its Board of Directors has initiated a stock buyback program 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 purchase up to 45% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the transaction, the vice president now owns 24,056 shares of the company’s stock, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Olin Profile

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.