Public Employees Retirement Association of Colorado reduced its stake in Olin Corporation (NYSE:OLN) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,569 shares of the specialty chemicals company’s stock after selling 1,428 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Olin Corporation were worth $1,218,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC raised its position in shares of Olin Corporation by 238.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $133,000 after purchasing an additional 3,100 shares during the last quarter. Creative Planning raised its position in shares of Olin Corporation by 130.8% in the 2nd quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after purchasing an additional 2,862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Olin Corporation by 9.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock valued at $185,000 after purchasing an additional 544 shares during the last quarter. Heartland Advisors Inc. purchased a new position in shares of Olin Corporation in the 3rd quarter valued at approximately $217,000. Finally, Frontier Wealth Management LLC acquired a new position in Olin Corporation in the 2nd quarter worth approximately $200,000. 92.88% of the stock is owned by hedge funds and other institutional investors.
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Several equities analysts recently weighed in on OLN shares. TheStreet upgraded shares of Olin Corporation from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $46.00 price target on shares of Olin Corporation in a report on Monday, November 6th. Cowen and Company set a $39.00 price target on shares of Olin Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. BidaskClub upgraded shares of Olin Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Citigroup Inc. started coverage on shares of Olin Corporation in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price target on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Olin Corporation presently has an average rating of “Buy” and a consensus target price of $37.13.
Shares of Olin Corporation (NYSE:OLN) opened at $36.54 on Friday. The company has a market cap of $6,081.97, a P/E ratio of 45.11, a PEG ratio of 4.19 and a beta of 1.41. Olin Corporation has a one year low of $23.94 and a one year high of $37.52. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.72.
Olin Corporation (NYSE:OLN) last issued its quarterly earnings data 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 firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin Corporation had a return on equity of 6.05% and a net margin of 1.29%. Olin Corporation’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. research analysts forecast that Olin Corporation will post 0.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Olin Corporation’s payout ratio is 177.78%.
In other news, VP Stephen C. Curley sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the sale, the vice president now owns 23,837 shares of the company’s stock, valued at approximately $723,214.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Bunch sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the sale, the director now directly owns 3,860 shares in the company, valued at approximately $138,960. The disclosure for this sale can be found here. Insiders have sold a total of 67,583 shares of company stock worth $2,446,754 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.
Olin Corporation Company Profile
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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