Olin Co. (NYSE:OLN) Shares Sold by EntryPoint Capital LLC

EntryPoint Capital LLC decreased its position in Olin Co. (NYSE:OLN) by 30.7% during the 4th quarter, Holdings Channel reports. The fund owned 7,015 shares of the specialty chemicals company’s stock after selling 3,102 shares during the quarter. EntryPoint Capital LLC’s holdings in Olin were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management boosted its holdings in Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in Olin during the fourth quarter worth $66,000. Jones Financial Companies Lllp raised its position in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 911 shares in the last quarter. Blue Trust Inc. raised its position in Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after acquiring an additional 738 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Olin during the 4th quarter worth $153,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was bought at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on OLN. KeyCorp decreased their target price on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut shares of Olin from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. BMO Capital Markets lowered their price target on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley cut their price objective on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.44.

Olin Price Performance

Olin stock opened at $24.55 on Friday. Olin Co. has a 1 year low of $22.98 and a 1 year high of $60.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The firm has a 50 day moving average price of $27.33 and a 200 day moving average price of $36.16. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 27.27 and a beta of 1.61.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Sell-side analysts predict that Olin Co. will post 1.38 earnings per share for the current year.

Olin announced that its Board of Directors has authorized a share repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, March 6th. Olin’s payout ratio is currently 88.89%.

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.