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

New York State Teachers Retirement System lessened its position in Olin Co. (NYSE:OLN) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,555 shares of the specialty chemicals company’s stock after selling 21,801 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Olin worth $5,832,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OLN. LRI Investments LLC purchased a new position in shares of Olin in the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 525 shares in the last quarter. nVerses Capital LLC purchased a new position in Olin in the second quarter valued at $33,000. Denver PWM LLC purchased a new stake in Olin during the 2nd quarter worth about $59,000. Finally, Mather Group LLC. boosted its stake in shares of Olin by 1,364.4% in the 2nd quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 1,187 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Upgrades and Downgrades

OLN has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. Mizuho began coverage on Olin in a report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price target for the company. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. Bank of America downgraded Olin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $51.00 in a report on Monday, July 29th. Finally, UBS Group cut their price objective on shares of Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average target price of $51.86.

Olin Stock Performance

Shares of OLN stock opened at $41.76 on Wednesday. The stock’s 50-day moving average price is $44.47 and its 200 day moving average price is $47.45. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $4.87 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. Olin Co. has a 52-week low of $39.47 and a 52-week high of $60.60.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio is presently 64.52%.

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.