Texas Permanent School Fund Has $5.97 Million Position in Olin Co. (NYSE:OLN)

Texas Permanent School Fund lessened its position in Olin Co. (NYSE:OLNGet Rating) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 103,868 shares of the specialty chemicals company’s stock after selling 2,961 shares during the period. Texas Permanent School Fund’s holdings in Olin were worth $5,974,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Morgan Stanley grew its holdings in shares of Olin by 202.8% during the 2nd quarter. Morgan Stanley now owns 1,388,688 shares of the specialty chemicals company’s stock valued at $64,241,000 after purchasing an additional 930,144 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Olin by 0.9% in the 3rd quarter. New York State Common Retirement Fund now owns 202,847 shares of the specialty chemicals company’s stock valued at $9,787,000 after purchasing an additional 1,843 shares in the last quarter. Raymond James & Associates grew its position in Olin by 5.8% during the 3rd quarter. Raymond James & Associates now owns 134,939 shares of the specialty chemicals company’s stock worth $6,511,000 after purchasing an additional 7,450 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Olin by 33.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,329 shares of the specialty chemicals company’s stock valued at $2,042,000 after buying an additional 10,577 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Olin by 3.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 51,778 shares of the specialty chemicals company’s stock worth $2,498,000 after buying an additional 1,749 shares during the last quarter. Institutional investors and hedge funds own 85.14% of the company’s stock.

OLN traded up $7.10 during trading on Friday, reaching $60.36. The company had a trading volume of 46,263 shares, compared to its average volume of 1,960,497. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.97. Olin Co. has a 52 week low of $39.90 and a 52 week high of $64.76. The business has a 50 day simple moving average of $52.46 and a 200-day simple moving average of $54.14. The stock has a market cap of $9.31 billion, a P/E ratio of 7.61 and a beta of 1.37.

Olin (NYSE:OLNGet Rating) last announced its earnings results on Thursday, January 27th. The specialty chemicals company reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.53 by ($0.12). Olin had a return on equity of 59.61% and a net margin of 14.55%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was up 46.9% compared to the same quarter last year. As a group, equities research analysts expect that Olin Co. will post 9.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 11th. Stockholders of record on Friday, March 4th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.33%. Olin’s payout ratio is 10.06%.

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Olin from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 22nd. Zacks Investment Research lowered Olin from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a report on Monday, January 3rd. Morgan Stanley cut their price target on shares of Olin from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 11th. UBS Group lifted their price target on shares of Olin from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, January 4th. Finally, KeyCorp raised their target price on Olin from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, April 5th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Olin currently has a consensus rating of “Buy” and an average target price of $69.92.

About Olin (Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. 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, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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Institutional Ownership by Quarter for Olin (NYSE:OLN)

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