Olin Co. (NYSE:OLN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in Olin Co. (NYSE:OLN) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,808 shares of the specialty chemicals company’s stock after selling 820 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Olin were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its position in Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 419 shares during the period. Spire Wealth Management raised its stake in shares of Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Olin in the fourth quarter valued at $66,000. Jones Financial Companies Lllp boosted its stake in Olin by 59.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after buying an additional 911 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after acquiring an additional 738 shares during the period. 88.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at approximately $203,435. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Olin Stock Performance

Shares of OLN stock opened at $21.99 on Friday. Olin Co. has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The stock’s 50-day moving average is $23.37 and its two-hundred day moving average is $32.46. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The firm has a market cap of $2.53 billion, a P/E ratio of 24.43 and a beta of 1.50.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Analysts predict that Olin Co. will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Thursday, March 6th. Olin’s payout ratio is presently 88.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OLN shares. Barclays dropped their target price on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Royal Bank of Canada lowered Olin from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. Morgan Stanley cut their target price on Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price target on Olin from $25.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group cut their price objective on Olin from $34.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.25.

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.