Public Employees Retirement Association of Colorado continued to hold its position in shares of Olin Co. (NYSE:OLN) during the first quarter, Holdings Channel reports. The firm owned 31,811 shares of the specialty chemicals company’s stock at the end of the first quarter. Public Employees Retirement Association of Colorado’s holdings in Olin were worth $1,046,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Deprince Race & Zollo Inc. boosted its stake in Olin by 3.3% in the third quarter. Deprince Race & Zollo Inc. now owns 1,908,882 shares of the specialty chemicals company’s stock worth $39,170,000 after buying an additional 61,453 shares during the last quarter. Rubric Capital Management LP bought a new stake in Olin during the fourth quarter worth $17,287,000. Prudential PLC boosted its stake in Olin by 5.7% in the fourth quarter. Prudential PLC now owns 1,288,400 shares of the specialty chemicals company’s stock worth $32,996,000 after buying an additional 69,700 shares during the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA bought a new stake in Olin during the third quarter worth $1,079,000. Finally, Columbus Circle Investors bought a new stake in Olin during the first quarter worth $32,179,000.
Olin Co. (NYSE:OLN) traded down 0.75% during trading on Thursday, reaching $30.30. 2,307,299 shares of the company traded hands. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 105.57 and a beta of 1.32. The firm’s 50 day moving average price is $31.26 and its 200 day moving average price is $29.09. Olin Co. has a 12-month low of $18.24 and a 12-month high of $33.88.
Olin (NYSE:OLN) last announced its quarterly earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.10. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.44 billion. Olin had a positive return on equity of 7.56% and a negative net margin of 0.07%. Equities research analysts expect that Olin Co. will post $1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Monday, May 8th. Olin’s dividend payout ratio (DPR) is presently -2,665.78%.
A number of analysts have weighed in on OLN shares. Zacks Investment Research raised shares of Olin from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Thursday, March 9th. Royal Bank of Canada reaffirmed a “buy” rating and set a $35.00 target price on shares of Olin in a research note on Tuesday, May 16th. Tudor Pickering started coverage on shares of Olin in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 target price on the stock. Bank of America Corp assumed coverage on shares of Olin in a research note on Monday, May 8th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Monness Crespi & Hardt lowered shares of Olin from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Thursday, February 2nd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $32.86.
In other news, VP Stephen C. Curley sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $32.06, for a total value of $176,330.00. Following the completion of the sale, the vice president now directly owns 24,337 shares of the company’s stock, valued at approximately $780,244.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Thomas J. Okeefe sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $32.26, for a total transaction of $322,600.00. Following the completion of the sale, the senior vice president now directly owns 59,706 shares of the company’s stock, valued at $1,926,115.56. The disclosure for this sale can be found here. In the last three months, insiders sold 17,500 shares of company stock worth $560,830. Insiders own 2.80% of the company’s stock.
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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