Liberty Mutual Group Asset Management Inc. Has $995,000 Stake in Olin Co. (OLN)

Liberty Mutual Group Asset Management Inc. cut its position in Olin Co. (NYSE:OLN) by 22.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,745 shares of the specialty chemicals company’s stock after selling 9,460 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Olin were worth $995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Olin by 10.5% in the first quarter. BlackRock Inc. now owns 18,442,401 shares of the specialty chemicals company’s stock worth $560,465,000 after purchasing an additional 1,753,276 shares in the last quarter. Iridian Asset Management LLC CT increased its stake in shares of Olin by 5.3% in the fourth quarter. Iridian Asset Management LLC CT now owns 7,760,477 shares of the specialty chemicals company’s stock worth $276,118,000 after purchasing an additional 390,184 shares in the last quarter. Macquarie Group Ltd. grew its stake in Olin by 0.6% during the fourth quarter. Macquarie Group Ltd. now owns 3,300,787 shares of the specialty chemicals company’s stock valued at $117,442,000 after acquiring an additional 18,904 shares in the last quarter. Jennison Associates LLC grew its stake in Olin by 8.7% during the fourth quarter. Jennison Associates LLC now owns 2,165,117 shares of the specialty chemicals company’s stock valued at $77,035,000 after acquiring an additional 172,700 shares in the last quarter. Finally, Luminus Management LLC grew its stake in Olin by 154.3% during the fourth quarter. Luminus Management LLC now owns 1,682,824 shares of the specialty chemicals company’s stock valued at $59,875,000 after acquiring an additional 1,020,982 shares in the last quarter. 87.14% of the stock is owned by hedge funds and other institutional investors.

In other Olin news, insider Stephen C. Curley sold 6,250 shares of Olin stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $33.00, for a total value of $206,250.00. Following the completion of the transaction, the insider now directly owns 25,837 shares of the company’s stock, valued at approximately $852,621. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John L. Mcintosh sold 8,750 shares of Olin stock in a transaction on Monday, February 26th. The stock was sold at an average price of $32.79, for a total transaction of $286,912.50. Following the completion of the transaction, the executive vice president now directly owns 63,891 shares of the company’s stock, valued at $2,094,985.89. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Several equities analysts recently weighed in on OLN shares. Zacks Investment Research raised shares of Olin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 17th. Citigroup cut their target price on shares of Olin from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. ValuEngine cut shares of Olin from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $37.00 target price on shares of Olin in a research note on Tuesday, April 17th. Finally, Nomura cut shares of Olin from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.00 to $35.00 in a research note on Friday, April 20th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Olin currently has an average rating of “Buy” and an average price target of $38.33.

Olin opened at $33.81 on Thursday, according to MarketBeat. Olin Co. has a fifty-two week low of $27.79 and a fifty-two week high of $38.84. The firm has a market cap of $5.65 billion, a P/E ratio of 41.74, a P/E/G ratio of 0.88 and a beta of 1.44. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.75 and a quick ratio of 1.05.

Olin declared that its Board of Directors has approved a share repurchase program on Tuesday, May 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Thursday, May 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. Olin’s payout ratio is currently 98.77%.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.

Institutional Ownership by Quarter for Olin (NYSE:OLN)

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