Olin Co. (NYSE:OLN) Stock Holdings Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its stake in Olin Co. (NYSE:OLN - Free Report) by 481.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,600 shares of the specialty chemicals company's stock after purchasing an additional 68,400 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of Olin worth $2,792,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pzena Investment Management LLC grew its stake in shares of Olin by 7.4% during the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock valued at $125,385,000 after buying an additional 256,903 shares during the period. Thrivent Financial for Lutherans grew its position in Olin by 5,746.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock valued at $54,546,000 after acquiring an additional 1,586,192 shares during the period. Norges Bank purchased a new stake in Olin during the fourth quarter valued at about $47,887,000. Charles Schwab Investment Management Inc. increased its stake in Olin by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,353,907 shares of the specialty chemicals company's stock worth $45,762,000 after acquiring an additional 58,208 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Olin by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company's stock worth $44,127,000 after purchasing an additional 97,980 shares during the period. Institutional investors and hedge funds own 88.67% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on OLN. Wells Fargo & Company dropped their target price on shares of Olin from $25.00 to $19.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada downgraded shares of Olin from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. BMO Capital Markets decreased 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. Truist Financial lowered their price target 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 reduced their price objective for the stock from $50.00 to $28.00 in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $33.25.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, the chief executive officer now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Olin Stock Down 0.7 %

NYSE OLN traded down $0.16 during trading hours on Monday, reaching $21.84. 1,673,468 shares of the company traded hands, compared to its average volume of 1,546,040. The stock has a market capitalization of $2.51 billion, a PE ratio of 24.27 and a beta of 1.50. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin Co. has a 12 month low of $17.66 and a 12 month high of $57.10. The company has a 50 day moving average of $23.26 and a two-hundred day moving average of $32.18.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 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%. As a group, equities analysts expect that Olin Co. will post 1.38 earnings per share 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 issued a $0.20 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.66%. Olin's dividend payout ratio (DPR) is 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.