Invesco Ltd. Has $13.45 Million Holdings in Olin Co. (NYSE:OLN)

Invesco Ltd. increased its holdings in shares of Olin Co. (NYSE:OLN) by 19.3% in the 4th quarter, HoldingsChannel reports. The firm owned 398,057 shares of the specialty chemicals company’s stock after acquiring an additional 64,449 shares during the period. Invesco Ltd.’s holdings in Olin were worth $13,454,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Olin by 37.7% during the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock valued at $6,042,000 after acquiring an additional 34,485 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Olin during the third quarter valued at about $256,000. Synovus Financial Corp bought a new position in shares of Olin during the 3rd quarter worth about $253,000. Franklin Resources Inc. grew its stake in shares of Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after buying an additional 172,768 shares during the period. Finally, First Hawaiian Bank increased its position in Olin by 9.0% in the 4th quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company’s stock valued at $732,000 after buying an additional 1,785 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OLN has been the subject of a number of research reports. Piper Sandler reduced their price objective on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of Olin from $25.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada lowered shares of Olin from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. Truist Financial decreased their price objective on Olin from $32.00 to $25.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut Olin from an “overweight” rating to a “neutral” rating and cut their target price for the company from $50.00 to $28.00 in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.25.

Insider Transactions at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Olin Price Performance

OLN opened at $20.93 on Tuesday. Olin Co. has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The firm has a 50-day moving average of $23.87 and a 200 day moving average of $33.07. 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 market cap of $2.41 billion, a P/E ratio of 23.26 and a beta of 1.50.

Olin (NYSE:OLN) last issued its quarterly 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%. On average, research analysts expect that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.82%. Olin’s dividend payout ratio is presently 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.