Rhumbline Advisers grew its holdings in shares of Olin Co. (NYSE:OLN) by 10.1% during the fourth quarter, HoldingsChannel reports. The firm owned 306,981 shares of the specialty chemicals company’s stock after purchasing an additional 28,047 shares during the period. Rhumbline Advisers’ holdings in Olin were worth $10,922,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in OLN. Public Employees Retirement System of Ohio raised its holdings in shares of Olin by 766.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 83,115 shares of the specialty chemicals company’s stock valued at $2,517,000 after purchasing an additional 73,522 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Olin by 101.3% during the 3rd quarter. First Trust Advisors LP now owns 211,564 shares of the specialty chemicals company’s stock valued at $7,246,000 after purchasing an additional 106,444 shares in the last quarter. Heartland Advisors Inc. bought a new position in shares of Olin during the 3rd quarter valued at $217,000. Crossmark Global Holdings Inc. bought a new position in shares of Olin during the 3rd quarter valued at $457,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Olin by 17.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 562,217 shares of the specialty chemicals company’s stock valued at $19,256,000 after purchasing an additional 82,900 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.
A number of research firms have recently weighed in on OLN. SunTrust Banks restated a “buy” rating and set a $46.00 price target on shares of Olin in a report on Monday, November 6th. Nomura cut their price target on shares of Olin from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Morgan Stanley set a $41.00 price target on shares of Olin and gave the company a “buy” rating in a report on Monday, February 12th. Zacks Investment Research downgraded shares of Olin from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Cowen restated a “buy” rating and set a $41.00 price target on shares of Olin in a report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $39.80.
Olin Co. (NYSE OLN) opened at $32.50 on Thursday. The company has a market cap of $5,367.69, a price-to-earnings ratio of 37.78, a P/E/G ratio of 1.10 and a beta of 1.36. Olin Co. has a twelve month low of $27.79 and a twelve month high of $38.84. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.31.
Olin (NYSE:OLN) last announced its earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 EPS for the quarter, topping the consensus estimate of $0.44 by $2.45. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.53 billion. Olin had a net margin of 8.77% and a return on equity of 6.02%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. analysts expect that Olin Co. will post 2.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be issued a $0.20 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.80 annualized dividend and a yield of 2.46%. Olin’s dividend payout ratio (DPR) is presently 24.69%.
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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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