Insider Buying: Olin Co. (NYSE:OLN) CEO Buys 7,250 Shares of Stock

Olin Co. (NYSE:OLN) CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Olin Stock Performance

NYSE OLN traded up $1.40 on Thursday, hitting $28.11. 1,222,644 shares of the stock were exchanged, compared to its average volume of 1,693,440. The company has a market capitalization of $3.28 billion, a PE ratio of 31.16, a P/E/G ratio of 0.69 and a beta of 1.45. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The business’s fifty day moving average is $34.92 and its 200 day moving average is $40.73. Olin Co. has a 52 week low of $26.48 and a 52 week high of $60.60.

Olin (NYSE:OLN) last issued 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 1.66% and a return on equity of 5.10%. Research analysts anticipate that Olin Co. will post 2.47 EPS for the current fiscal year.

Olin announced that its board has initiated a share 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 repurchase up to 45% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

OLN has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday. KeyCorp reduced their target price on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday. Barclays lowered their price target on Olin from $43.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday. Wells Fargo & Company cut their price objective on Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Citigroup dropped their target price on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average target price of $40.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. Covestor Ltd increased its holdings in shares of Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 715 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Olin in the third quarter valued at about $47,000. Spire Wealth Management lifted its stake in shares of Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 1,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares during the period. 88.67% of the stock is currently owned by institutional investors.

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.