Retirement Systems of Alabama Sells 3,619 Shares of Olin Co. (NYSE:OLN)

Retirement Systems of Alabama trimmed its stake in shares of Olin Co. (NYSE:OLN) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 313,288 shares of the specialty chemicals company’s stock after selling 3,619 shares during the quarter. Retirement Systems of Alabama owned 0.26% of Olin worth $16,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OLN. Pzena Investment Management LLC raised its stake in shares of Olin by 15.6% during the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after purchasing an additional 397,050 shares during the period. Luminus Management LLC raised its stake in shares of Olin by 119.6% during the 3rd quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock valued at $26,227,000 after purchasing an additional 285,789 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Olin by 21.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock valued at $58,954,000 after purchasing an additional 206,398 shares during the period. Hsbc Holdings PLC raised its stake in shares of Olin by 139.4% during the 3rd quarter. Hsbc Holdings PLC now owns 259,923 shares of the specialty chemicals company’s stock valued at $12,947,000 after purchasing an additional 151,342 shares during the period. Finally, Rovida Advisors Inc. bought a new stake in shares of Olin during the 3rd quarter valued at $4,998,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 2.4 %

NYSE:OLN opened at $52.28 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. The business has a fifty day moving average price of $55.67 and a 200-day moving average price of $51.73. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. Olin Co. has a one year low of $41.71 and a one year high of $60.60.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $1.16 EPS. Olin’s revenue for the quarter was down 11.3% compared to the same quarter last year. Sell-side analysts forecast that Olin Co. will post 3.68 EPS for the current year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. Olin’s payout ratio is presently 28.78%.

Insiders Place Their Bets

In other Olin news, VP Brett A. Flaugher sold 15,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the completion of the sale, the vice president now owns 8,782 shares in the company, valued at approximately $460,703.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the transaction, the chief executive officer now owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brett A. Flaugher sold 15,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $52.46, for a total transaction of $786,900.00. Following the transaction, the vice president now directly owns 8,782 shares of the company’s stock, valued at approximately $460,703.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,896 shares of company stock worth $4,136,061. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the topic of a number of research analyst reports. Bank of America decreased their target price on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday. KeyCorp decreased their target price on Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada decreased their target price on Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday. UBS Group upped their target price on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus increased their price objective on Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.00.

Olin 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.