Regents Gate Capital LLP Buys Shares of 54,252 Olin Co. (NYSE:OLN)

Regents Gate Capital LLP bought a new stake in shares of Olin Co. (NYSE:OLN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 54,252 shares of the specialty chemicals company’s stock, valued at approximately $1,834,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Entropy Technologies LP boosted its holdings in Olin by 460.3% during the fourth quarter. Entropy Technologies LP now owns 75,631 shares of the specialty chemicals company’s stock valued at $2,556,000 after acquiring an additional 62,132 shares during the period. Empowered Funds LLC boosted its stake in Olin by 8.0% during the 4th quarter. Empowered Funds LLC now owns 22,131 shares of the specialty chemicals company’s stock valued at $748,000 after purchasing an additional 1,633 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Olin by 9.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock valued at $197,000 after buying an additional 500 shares during the last quarter. State of Alaska Department of Revenue increased its position in Olin by 18.9% in the 4th quarter. State of Alaska Department of Revenue now owns 92,295 shares of the specialty chemicals company’s stock worth $3,119,000 after buying an additional 14,640 shares during the period. Finally, ARGA Investment Management LP lifted its holdings in shares of Olin by 47.2% during the fourth quarter. ARGA Investment Management LP now owns 59,813 shares of the specialty chemicals company’s stock worth $2,022,000 after buying an additional 19,175 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OLN. Piper Sandler cut their price objective on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on Olin from $40.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Barclays lowered their price objective on Olin from $43.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Bank of America raised Olin from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, KeyCorp lowered their price target on shares of Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.94.

Insiders Place Their Bets

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.

Olin Stock Down 0.8 %

NYSE OLN opened at $28.23 on Monday. The stock’s 50 day simple moving average is $34.03 and its 200 day simple moving average is $40.36. Olin Co. has a one year low of $26.48 and a one year high of $60.60. The firm has a market cap of $3.29 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 0.91 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.

Olin (NYSE:OLN) last announced its 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 return on equity of 5.10% and a net margin of 1.66%. As a group, sell-side analysts forecast that Olin Co. will post 1.83 earnings per share for the current fiscal year.

Olin announced that its Board of Directors has approved a share buyback program on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.