Regents Gate Capital LLP Invests $1.83 Million in Olin Co. (NYSE:OLN)

Regents Gate Capital LLP acquired a new stake in Olin Co. (NYSE:OLN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 54,252 shares of the specialty chemicals company’s stock, valued at approximately $1,834,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in shares of Olin by 55.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock valued at $4,835,000 after acquiring an additional 51,051 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Olin during the third quarter worth $916,000. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 37,043 shares during the last quarter. KBC Group NV increased its position in shares of Olin by 82.9% in the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 2,476 shares in the last quarter. Finally, Mariner Investment Group LLC purchased a new position in shares of Olin in the fourth quarter valued at $355,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Insider Activity

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Olin Stock Performance

Shares of OLN stock opened at $28.23 on Monday. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 0.91 and a beta of 1.45. Olin Co. has a one year low of $26.48 and a one year high of $60.60. The company’s 50-day simple moving average is $34.03 and its 200-day simple moving average is $40.36. 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 (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (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%. Equities analysts anticipate that Olin Co. will post 1.83 earnings per share for the current fiscal year.

Olin declared that its Board of Directors has initiated a share repurchase program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OLN. Barclays lowered 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. Truist Financial lowered their price target on Olin from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, February 3rd. KeyCorp lowered their target price on Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group reduced their price target on Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, Piper Sandler dropped their price objective on shares of Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.94.

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.