New York State Common Retirement Fund lowered its position in shares of Olin Co. (NYSE:OLN) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,300 shares of the specialty chemicals company’s stock after selling 38,086 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of Olin worth $5,878,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deprince Race & Zollo Inc. purchased a new stake in shares of Olin during the fourth quarter valued at approximately $20,040,000. Pacer Advisors Inc. increased its stake in shares of Olin by 16.7% in the third quarter. Pacer Advisors Inc. now owns 60,449 shares of the specialty chemicals company’s stock worth $1,552,000 after buying an additional 8,648 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Olin by 58.3% in the third quarter. Nordea Investment Management AB now owns 152,961 shares of the specialty chemicals company’s stock worth $3,928,000 after buying an additional 56,310 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of Olin in the third quarter worth $7,201,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Olin by 57.2% in the fourth quarter. Meeder Asset Management Inc. now owns 4,729 shares of the specialty chemicals company’s stock worth $95,000 after buying an additional 1,721 shares during the last quarter. Institutional investors own 85.22% of the company’s stock.
A number of brokerages recently issued reports on OLN. Cowen restated an “outperform” rating and issued a $32.00 price target on shares of Olin in a research note on Wednesday, February 6th. ValuEngine upgraded shares of Olin from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. KeyCorp began coverage on shares of Olin in a research note on Monday, January 28th. They issued an “overweight” rating and a $30.00 price target for the company. Nomura lowered shares of Olin from a “neutral” rating to a “reduce” rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, January 30th. Finally, Zacks Investment Research lowered shares of Olin from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Olin has a consensus rating of “Hold” and a consensus price target of $29.27.
Olin stock opened at $23.37 on Friday. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.40 and a beta of 1.61. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.53 and a quick ratio of 0.89. Olin Co. has a 12 month low of $17.87 and a 12 month high of $34.42.
Olin (NYSE:OLN) last released its quarterly earnings data on Monday, February 4th. The specialty chemicals company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.70 billion. Olin had a return on equity of 10.42% and a net margin of 4.72%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.89 EPS. On average, analysts anticipate that Olin Co. will post 1.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Friday, February 8th. Olin’s dividend payout ratio is presently 45.71%.
In other Olin news, VP Brett A. Flaugher sold 12,500 shares of Olin stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $26.53, for a total value of $331,625.00. Following the completion of the transaction, the vice president now owns 40,629 shares of the company’s stock, valued at $1,077,887.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.
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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.
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