Wilmington Savings Fund Society FSB Has $197,000 Stock Position in Olin Co. (NYSE:OLN)

Wilmington Savings Fund Society FSB boosted its position in Olin Co. (NYSE:OLN) by 9.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,833 shares of the specialty chemicals company’s stock after purchasing an additional 500 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Olin were worth $197,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of OLN. Hotchkis & Wiley Capital Management LLC lifted its position in Olin by 6.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after acquiring an additional 531,330 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Olin by 24.8% in the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock valued at $165,661,000 after buying an additional 685,710 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Olin by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after buying an additional 37,043 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Olin by 19.2% in the third 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Olin by 2.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock valued at $50,907,000 after buying an additional 25,163 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OLN. Royal Bank of Canada downgraded shares of Olin from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. BMO Capital Markets dropped their price target on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Barclays decreased their price objective on shares of Olin from $43.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. UBS Group decreased their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Olin has an average rating of “Hold” and an average target price of $40.94.

Olin Price Performance

Shares of NYSE:OLN opened at $27.99 on Thursday. The firm has a market cap of $3.26 billion, a PE ratio of 31.10, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. The firm’s fifty day moving average is $33.45 and its 200-day moving average is $40.06. 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 52 week low of $26.48 and a 52 week high of $60.60.

Olin (NYSE:OLN) last issued its quarterly earnings results 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 net margin of 1.66% and a return on equity of 5.10%. Sell-side analysts predict that Olin Co. will post 1.83 earnings per share for the current year.

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

Insider Transactions at Olin

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $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 link. 1.60% of the stock is owned by company insiders.

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.