Olin Co. (NYSE:OLN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its holdings in shares of Olin Co. (NYSE:OLNFree Report) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,800 shares of the specialty chemicals company’s stock after selling 10,428 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Olin worth $6,895,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OLN. Sandy Spring Bank increased its holdings in Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 364 shares in the last quarter. Covestor Ltd increased its holdings in Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 286 shares in the last quarter. ORG Partners LLC increased its holdings in Olin by 1,100.0% in the fourth quarter. ORG Partners LLC now owns 960 shares of the specialty chemicals company’s stock valued at $52,000 after buying an additional 880 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Olin during the 4th quarter worth approximately $96,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of Olin during the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. KeyCorp dropped their price objective on shares of Olin from $78.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Bank of America dropped their price objective 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. Piper Sandler raised their price objective on shares of Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Stifel Nicolaus raised their price objective on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Barclays raised their target price on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.00.

Read Our Latest Analysis on Olin

Olin Stock Performance

OLN stock opened at $50.19 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 0.29 and a beta of 1.47. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60. The firm has a 50 day moving average of $54.49 and a two-hundred day moving average of $53.49.

Olin (NYSE:OLNGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $1.16 EPS. Olin’s quarterly revenue was down 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that Olin Co. will post 3.66 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th 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 1.59%. The ex-dividend date is Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is currently 28.78%.

Olin Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Olin (NYSE:OLN)

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