New York State Common Retirement Fund raised its holdings in shares of Olin Co. (NYSE:OLN) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 643,187 shares of the specialty chemicals company’s stock after buying an additional 21,180 shares during the quarter. New York State Common Retirement Fund owned about 0.39% of Olin worth $22,029,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of OLN. World Asset Management Inc boosted its holdings in shares of Olin by 2.3% in the 2nd quarter. World Asset Management Inc now owns 10,353 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 228 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Olin by 3.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,355 shares of the specialty chemicals company’s stock worth $404,000 after purchasing an additional 453 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Olin by 9.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 544 shares in the last quarter. Comerica Securities Inc. boosted its holdings in shares of Olin by 0.6% in the 2nd quarter. Comerica Securities Inc. now owns 99,523 shares of the specialty chemicals company’s stock worth $3,014,000 after purchasing an additional 561 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Olin by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 69,900 shares of the specialty chemicals company’s stock valued at $2,117,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 89.70% of the company’s stock.
In other news, VP Dolores J. Ennico sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $552,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John L. Mcintosh sold 9,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $35.42, for a total value of $336,490.00. The disclosure for this sale can be found here. Insiders have sold a total of 75,083 shares of company stock valued at $2,741,284 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.
A number of research firms have recently weighed in on OLN. TheStreet raised Olin from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. Zacks Investment Research lowered Olin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 4th. Cowen reissued an “outperform” rating and issued a $42.00 target price (up previously from $39.00) on shares of Olin in a research note on Tuesday, October 10th. SunTrust Banks reissued a “buy” rating and issued a $46.00 target price on shares of Olin in a research note on Monday, November 6th. Finally, Citigroup began coverage on Olin in a research note on Wednesday, September 27th. They issued a “buy” rating and a $39.00 target price for the company. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $37.13.
Olin Co. (NYSE:OLN) traded down $0.56 on Wednesday, reaching $34.29. The company’s stock had a trading volume of 2,518,100 shares, compared to its average volume of 2,097,383. The company has a market cap of $5,800.67, a price-to-earnings ratio of 43.03, a price-to-earnings-growth ratio of 3.88 and a beta of 1.39. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.03. Olin Co. has a fifty-two week low of $24.93 and a fifty-two week high of $37.52.
Olin (NYSE:OLN) last released its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. Olin had a net margin of 1.29% and a return on equity of 6.05%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS. analysts anticipate that Olin Co. will post 0.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, November 9th. Olin’s payout ratio is 177.78%.
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Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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