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

Crews Bank & Trust purchased a new stake in Olin Co. (NYSE:OLN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,513 shares of the specialty chemicals company’s stock, valued at approximately $153,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC raised its position in 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. Mirae Asset Global Investments Co. Ltd. raised its holdings in Olin by 26.2% during 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. Entropy Technologies LP lifted its position in Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Olin by 3.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after purchasing an additional 350 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in Olin by 8.5% during the 4th quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock worth $234,000 after purchasing an additional 542 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on OLN. KeyCorp reduced their price target on Olin from $56.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, January 10th. 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. Royal Bank of Canada lowered their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Citigroup reduced their price objective 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. Finally, Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.44.

Olin Stock Performance

NYSE OLN opened at $29.24 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.48. Olin Co. has a fifty-two week low of $28.80 and a fifty-two week high of $60.60. The business has a fifty day moving average of $35.52 and a 200-day moving average of $41.16.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 2.33% and a return on equity of 6.19%. As a group, analysts predict that Olin Co. will post 0.95 earnings per share for the current fiscal year.

Olin declared that its board has approved a stock buyback plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Olin Company 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.