Olin Co. (NYSE:OLN) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in shares of Olin Co. (NYSE:OLN) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 313,288 shares of the specialty chemicals company’s stock after selling 3,619 shares during the period. Retirement Systems of Alabama’s holdings in Olin were worth $16,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of OLN. Truist Financial Corp raised its holdings in Olin by 34.1% in the 4th quarter. Truist Financial Corp now owns 16,552 shares of the specialty chemicals company’s stock valued at $893,000 after acquiring an additional 4,212 shares during the last quarter. South Dakota Investment Council grew its stake in shares of Olin by 279.8% in the 4th quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock valued at $3,258,000 after buying an additional 44,492 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Olin in the 4th quarter valued at approximately $96,000. Illinois Municipal Retirement Fund grew its stake in shares of Olin by 37.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 35,433 shares of the specialty chemicals company’s stock valued at $1,912,000 after buying an additional 9,703 shares during the period. Finally, Wedge Capital Management L L P NC grew its stake in shares of Olin by 5.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 24,457 shares of the specialty chemicals company’s stock valued at $1,319,000 after buying an additional 1,366 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Trading Down 2.4 %

Shares of OLN opened at $52.28 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. The firm’s 50-day moving average is $55.67 and its two-hundred day moving average is $51.73. Olin Co. has a twelve month low of $41.71 and a twelve month high of $60.60. The firm has a market capitalization of $6.24 billion, a P/E ratio of 18.81, a PEG ratio of 0.30 and a beta of 1.44.

Olin (NYSE:OLN) last issued 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. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. Olin’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, research analysts predict that Olin Co. will post 3.68 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.53%. Olin’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 3rd. Piper Sandler increased their price objective on shares of Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America reduced their target price on shares of Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a report on Monday. KeyCorp reduced their target price on shares of Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a report on Monday. Finally, UBS Group lifted their price target on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Insider Buying and Selling

In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of Olin stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the completion of the transaction, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at $3,954,667.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 78,896 shares of company stock valued at $4,136,061. 1.80% of the stock is owned by insiders.

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.