Olin Co. (NYSE:OLN) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp reduced its stake in Olin Co. (NYSE:OLN) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,750 shares of the specialty chemicals company’s stock after selling 7,550 shares during the period. Alaska Permanent Fund Corp’s holdings in Olin were worth $2,037,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its position in shares of Olin by 15.6% in the 3rd quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after buying an additional 397,050 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Olin by 0.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,321,017 shares of the specialty chemicals company’s stock worth $66,024,000 after purchasing an additional 8,788 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Olin by 8.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,192,018 shares of the specialty chemicals company’s stock worth $59,577,000 after purchasing an additional 89,656 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Olin by 21.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,179,543 shares of the specialty chemicals company’s stock valued at $58,954,000 after acquiring an additional 206,398 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Olin by 5.3% in the 3rd quarter. Invesco Ltd. now owns 1,132,733 shares of the specialty chemicals company’s stock valued at $56,614,000 after acquiring an additional 57,364 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Up 1.9 %

Shares of NYSE:OLN opened at $53.80 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $6.44 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.29 and a beta of 1.44. The stock’s fifty day simple moving average is $55.61 and its 200-day simple moving average is $51.59. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, April 25th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Olin had a return on equity of 18.44% and a net margin of 6.74%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities research analysts forecast that Olin Co. will post 3.73 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Olin’s dividend payout ratio (DPR) is presently 22.60%.

Insider Activity

In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Olin news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the completion of the sale, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were 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 in the company, valued at approximately $3,954,667.50. The disclosure for this sale can be found here. Insiders sold 753,274 shares of company stock valued at $40,434,124 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Olin from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Citigroup upped their price objective on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their target price on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group boosted their price objective on shares of Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, UBS Group raised their price objective on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.33.

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.