32,371 Shares in Olin Corporation $OLN Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in Olin Corporation (NYSE:OLNFree Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,371 shares of the specialty chemicals company’s stock, valued at approximately $642,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Amundi raised its stake in Olin by 337.2% in the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock valued at $20,336,000 after acquiring an additional 527,586 shares during the period. Empowered Funds LLC boosted its position in Olin by 1,946.0% during the first quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company’s stock worth $12,950,000 after purchasing an additional 414,309 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Olin by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock worth $167,311,000 after purchasing an additional 1,031,498 shares in the last quarter. Sei Investments Co. increased its stake in shares of Olin by 132.5% in the first quarter. Sei Investments Co. now owns 169,374 shares of the specialty chemicals company’s stock worth $5,036,000 after purchasing an additional 96,516 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Olin by 17.5% in the fourth quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after purchasing an additional 671,250 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on OLN shares. The Goldman Sachs Group dropped their price target on shares of Olin from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Truist Financial reduced their price objective on shares of Olin from $24.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, August 3rd. Wall Street Zen cut shares of Olin from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Citigroup downgraded Olin from a “neutral” rating to an “underperform” rating in a research report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. reduced their price target on Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $22.62.

Check Out Our Latest Analysis on OLN

Olin Price Performance

OLN stock opened at $17.46 on Thursday. The firm has a 50 day moving average of $19.63 and a 200-day moving average of $23.61. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. Olin Corporation has a 12 month low of $16.73 and a 12 month high of $30.46. The firm has a market capitalization of $1.99 billion, a P/E ratio of -14.20 and a beta of 1.20.

Olin (NYSE:OLNGet Free Report) last posted its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company posted ($0.01) EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts predict that Olin Corporation will post -0.68 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Thursday, August 27th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, August 27th. Olin’s payout ratio is -65.04%.

Olin Company Profile

(Free Report)

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

See Also

Institutional Ownership by Quarter for Olin (NYSE:OLN)

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