OLD National Bancorp IN Acquires New Shares in Olin Co. (NYSE:OLN)

OLD National Bancorp IN acquired a new stake in Olin Co. (NYSE:OLN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 6,695 shares of the specialty chemicals company’s stock, valued at approximately $361,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OLN. Pzena Investment Management LLC lifted its position in Olin by 15.6% during the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock worth $146,974,000 after acquiring an additional 397,050 shares during the last quarter. Luminus Management LLC lifted its position in Olin by 119.6% during the 3rd quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock worth $26,227,000 after acquiring an additional 285,789 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Olin by 21.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock worth $58,954,000 after acquiring an additional 206,398 shares during the last quarter. Hsbc Holdings PLC lifted its position in Olin by 139.4% during the 3rd quarter. Hsbc Holdings PLC now owns 259,923 shares of the specialty chemicals company’s stock worth $12,947,000 after acquiring an additional 151,342 shares during the last quarter. Finally, Rovida Advisors Inc. acquired a new position in Olin during the 3rd quarter worth $4,998,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OLN. Royal Bank of Canada boosted their price objective on shares of Olin from $64.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. KeyCorp upped their price target on Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. UBS Group lifted their price objective on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. The Goldman Sachs Group lifted their price objective on Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, Citigroup lifted their price objective on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.33.

Insider Buying and Selling at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the completion of the transaction, the chief executive officer now owns 47,620 shares in the company, valued at approximately $2,569,575.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Olin news, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the transaction, the chief financial officer now owns 137,517 shares in the company, valued at approximately $7,446,545.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total value of $29,102,138.88. Following the completion of the sale, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at $2,569,575.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 753,274 shares of company stock worth $40,434,124. 1.60% of the stock is currently owned by insiders.

Olin Price Performance

Olin stock opened at $53.08 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. The company has a market capitalization of $6.35 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. Olin Co. has a one year low of $41.71 and a one year high of $60.60. The business has a 50 day simple moving average of $55.61 and a 200 day simple moving average of $51.58.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.50 billion. Olin had a return on equity of 18.44% and a net margin of 6.74%. On average, sell-side analysts forecast that Olin Co. will post 3.75 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 annualized dividend and a yield of 1.51%. Olin’s payout ratio is 22.60%.

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.