Public Employees Retirement System of Ohio raised its holdings in Olin Co. (NYSE:OLN) by 19.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,986 shares of the specialty chemicals company’s stock after buying an additional 15,871 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of Olin worth $3,390,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of OLN. Acrospire Investment Management LLC grew its holdings in shares of Olin by 238.5% during the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 3,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Olin by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 544 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in Olin in the 3rd quarter valued at approximately $216,000. Heartland Advisors Inc. purchased a new stake in Olin in the 3rd quarter valued at approximately $217,000. Finally, Frontier Wealth Management LLC purchased a new stake in Olin in the 2nd quarter valued at approximately $200,000. Institutional investors own 89.68% of the company’s stock.
In related news, Chairman John E. Fischer sold 37,583 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.80, for a total transaction of $1,383,054.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dolores J. Ennico sold 15,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total transaction of $552,000.00. The disclosure for this sale can be found here. Insiders sold a total of 75,083 shares of company stock worth $2,741,284 in the last quarter. 2.90% of the stock is currently owned by company insiders.
Shares of Olin Co. (NYSE OLN) opened at $38.07 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.03 and a debt-to-equity ratio of 1.59. Olin Co. has a 12-month low of $25.60 and a 12-month high of $38.84. The firm has a market cap of $6,316.66, a price-to-earnings ratio of 84.60, a P/E/G ratio of 1.13 and a beta of 1.39.
Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Olin had a return on equity of 6.05% and a net margin of 1.29%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. analysts anticipate that Olin Co. will post 0.93 earnings per share for the current year.
A number of brokerages have weighed in on OLN. Morgan Stanley started coverage on Olin in a report on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 price objective on the stock. Zacks Investment Research upgraded shares of Olin from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Friday. Vertical Research upgraded Olin from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. TheStreet upgraded Olin from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Finally, Cowen restated an “outperform” rating and set a $42.00 price objective (up from $39.00) on shares of Olin in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Olin presently has an average rating of “Buy” and a consensus price target of $39.10.
Olin Company Profile
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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