Guggenheim Capital LLC Buys 1,572 Shares of Olin Co. (NYSE:OLN)

Guggenheim Capital LLC lifted its position in shares of Olin Co. (NYSE:OLN) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,241 shares of the specialty chemicals company’s stock after purchasing an additional 1,572 shares during the period. Guggenheim Capital LLC’s holdings in Olin were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OLN. Barclays PLC increased its holdings in Olin by 37.7% in the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock worth $6,042,000 after acquiring an additional 34,485 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Olin during the third quarter valued at approximately $256,000. Synovus Financial Corp bought a new stake in Olin during the 3rd quarter worth approximately $253,000. Franklin Resources Inc. lifted its stake in Olin by 19.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock worth $51,015,000 after purchasing an additional 172,768 shares in the last quarter. Finally, First Hawaiian Bank boosted its holdings in Olin by 9.0% in the 4th quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company’s stock valued at $732,000 after purchasing an additional 1,785 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

Olin Price Performance

Shares of Olin stock opened at $22.25 on Friday. 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 Co. has a one year low of $17.66 and a one year high of $57.10. The business’s 50 day simple moving average is $23.50 and its two-hundred day simple moving average is $32.73. The stock has a market capitalization of $2.56 billion, a P/E ratio of 24.72 and a beta of 1.50.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 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%. Analysts forecast that Olin Co. will post 1.38 EPS for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. Olin’s dividend payout ratio is currently 88.89%.

Wall Street Analysts Forecast Growth

OLN has been the topic of several research analyst reports. Piper Sandler decreased their price target on shares of Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Barclays lowered their price target on Olin from $34.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Morgan Stanley cut their price objective on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada downgraded shares of Olin from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. Finally, Mizuho set a $23.00 price target on shares of Olin in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Olin has a consensus rating of “Hold” and a consensus target price of $33.25.

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.