New York State Common Retirement Fund Has $4.10 Million Position in Olin Co. (NYSE:OLN)

New York State Common Retirement Fund cut its stake in Olin Co. (NYSE:OLN) by 26.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,057 shares of the specialty chemicals company’s stock after selling 27,649 shares during the period. New York State Common Retirement Fund owned about 0.06% of Olin worth $4,103,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pzena Investment Management LLC raised its stake in shares of Olin by 15.6% in the third quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after acquiring an additional 397,050 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of Olin by 0.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,321,017 shares of the specialty chemicals company’s stock worth $66,024,000 after purchasing an additional 8,788 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Olin by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,192,018 shares of the specialty chemicals company’s stock valued at $59,577,000 after buying an additional 89,656 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Olin by 21.2% in the third 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 buying an additional 206,398 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Olin by 5.3% during the 3rd quarter. Invesco Ltd. now owns 1,132,733 shares of the specialty chemicals company’s stock worth $56,614,000 after buying an additional 57,364 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Up 0.6 %

Shares of Olin stock opened at $53.63 on Monday. Olin Co. has a 1 year low of $41.71 and a 1 year high of $60.60. 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 company has a market capitalization of $6.40 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.31 and a beta of 1.48. The business has a 50-day moving average of $55.71 and a two-hundred day moving average of $51.83.

Olin (NYSE:OLN) last posted its 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 analysts’ expectations of $1.65 billion. During the same period in the prior year, the business earned $1.16 EPS. Olin’s revenue for the quarter was down 11.3% compared to the same quarter last year. As a group, equities analysts predict that Olin Co. will post 3.68 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

OLN has been the subject of a number of research analyst reports. Bank of America dropped their target price on shares of Olin from $74.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Wells Fargo & Company boosted their target price on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 3rd. KeyCorp decreased their price target on Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. The Goldman Sachs Group raised their target price on shares of Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, UBS Group increased their price objective on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.00.

Insiders Place Their Bets

In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total value of $787,500.00. Following the sale, the chief executive officer now directly owns 75,327 shares in the company, valued at $3,954,667.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 78,896 shares of company stock worth $4,136,061. Corporate insiders own 1.60% of the company’s stock.

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.