Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Olin Co. (NYSE:OLN – Free Report) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,116 shares of the specialty chemicals company’s stock after buying an additional 2,699 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Olin were worth $2,987,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Olin by 3.2% during the first quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock valued at $829,542,000 after buying an additional 493,052 shares during the period. FMR LLC increased its stake in shares of Olin by 33.7% during the first quarter. FMR LLC now owns 9,238,429 shares of the specialty chemicals company’s stock valued at $512,733,000 after buying an additional 2,330,040 shares during the period. State Street Corp increased its stake in shares of Olin by 0.6% during the first quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock valued at $291,812,000 after buying an additional 31,587 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Olin by 1.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,399,626 shares of the specialty chemicals company’s stock valued at $299,679,000 after buying an additional 87,305 shares during the period. Finally, Yacktman Asset Management LP purchased a new position in shares of Olin during the second quarter valued at approximately $221,775,000. 85.69% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Olin from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. The Goldman Sachs Group dropped their price target on Olin from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. JPMorgan Chase & Co. lowered Olin from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $75.00 to $48.00 in a research report on Monday, October 30th. Vertical Research lowered Olin from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Tuesday, September 5th. Finally, Piper Sandler dropped their price target on Olin from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.43.
Olin Stock Up 2.0 %
OLN stock opened at $46.95 on Monday. Olin Co. has a 1-year low of $41.71 and a 1-year high of $64.70. The business has a fifty day moving average price of $46.76 and a 200-day moving average price of $51.27. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.50 and a quick ratio of 0.80. The stock has a market capitalization of $5.75 billion, a P/E ratio of 10.34, a P/E/G ratio of 9.23 and a beta of 1.44.
Olin (NYSE:OLN – Get Free Report) last posted its quarterly earnings results on Friday, October 27th. The specialty chemicals company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.15. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Olin had a return on equity of 24.36% and a net margin of 8.39%. The company’s revenue was down 28.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. Equities analysts forecast that Olin Co. will post 3.33 earnings per share for the current fiscal year.
Olin Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, November 8th. Olin’s dividend payout ratio (DPR) is presently 17.62%.
Olin Company 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.
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