10,500 Shares in Olin Co. (NYSE:OLN) Acquired by Mariner Investment Group LLC

Mariner Investment Group LLC acquired a new stake in shares of Olin Co. (NYSE:OLN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,500 shares of the specialty chemicals company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV boosted its position in shares of Olin by 82.9% during the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after acquiring an additional 2,476 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after purchasing an additional 738 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Olin by 8.5% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock valued at $234,000 after purchasing an additional 542 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Olin by 16.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 59,134 shares of the specialty chemicals company’s stock valued at $1,999,000 after purchasing an additional 8,521 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Olin in the fourth quarter worth about $4,264,000. Institutional investors own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Barclays cut their target price on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and decreased their price target for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. Citigroup dropped their price objective on shares of Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Morgan Stanley reduced their target price on shares of Olin from $41.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.07.

Insider Activity at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Olin Trading Down 2.2 %

OLN opened at $32.71 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The stock’s 50 day moving average price is $36.49 and its 200-day moving average price is $41.63. Olin Co. has a one year low of $30.69 and a one year high of $60.60. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 0.78 and a beta of 1.48.

Olin announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board 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.