Olin Co. (NYSE:OLN) CEO Kenneth Todd Lane Buys 7,250 Shares

Olin Co. (NYSE:OLN) CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the purchase, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Olin Price Performance

Shares of OLN opened at $28.42 on Friday. The stock has a market cap of $3.31 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. Olin Co. has a fifty-two week low of $26.48 and a fifty-two week high of $60.60. The firm’s 50-day simple moving average is $34.60 and its two-hundred day simple moving average is $40.64.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Analysts anticipate that Olin Co. will post 2.47 earnings per share for the current fiscal year.

Olin declared that its Board of Directors has authorized a share buyback plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on OLN. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and dropped their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Citigroup decreased their price target on shares of Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Truist Financial decreased their price target on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday. Piper Sandler reduced 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. Finally, UBS Group reduced their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the period. Covestor Ltd raised its position in Olin by 357.5% in 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 period. Capital Performance Advisors LLP purchased a new stake in shares of Olin in the third quarter worth $47,000. Spire Wealth Management increased its stake 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 worth $55,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $75,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

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.