Public Employees Retirement Association of Colorado Lowers Holdings in Olin Co. (NYSE:OLN)

Public Employees Retirement Association of Colorado reduced its holdings in shares of Olin Co. (NYSE:OLN) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,461 shares of the specialty chemicals company’s stock after selling 422 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Olin were worth $588,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in Olin during the 2nd quarter worth about $2,274,000. Resolute Capital Asset Partners LLC acquired a new position in shares of Olin during the second quarter worth about $1,414,000. MQS Management LLC purchased a new stake in shares of Olin during the second quarter worth approximately $299,000. XTX Topco Ltd acquired a new stake in Olin in the second quarter valued at approximately $962,000. Finally, Seven Eight Capital LP lifted its stake in Olin by 77.0% in the second quarter. Seven Eight Capital LP now owns 36,132 shares of the specialty chemicals company’s stock worth $1,704,000 after acquiring an additional 15,716 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on OLN shares. The Goldman Sachs Group dropped their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a report on Monday, July 29th. Piper Sandler dropped their price objective on Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. UBS Group decreased their target price on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, BMO Capital Markets assumed coverage on Olin in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $52.73.

Olin Price Performance

Shares of NYSE:OLN opened at $48.52 on Friday. Olin Co. has a one year low of $39.47 and a one year high of $60.60. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.41. The company has a 50-day simple moving average of $43.56 and a 200-day simple moving average of $49.83. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. On average, analysts predict that Olin Co. will post 1.61 EPS for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. Olin’s dividend payout ratio (DPR) is 28.78%.

About Olin

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.