Teachers Insurance & Annuity Association of America acquired a new position in shares of Olin Co. (NYSE:OLN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,538 shares of the specialty chemicals company’s stock, valued at approximately $446,000.
Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its position in shares of Olin by 971.4% during the fourth quarter. Bessemer Group Inc. now owns 4,725 shares of the specialty chemicals company’s stock worth $168,000 after acquiring an additional 4,284 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Olin in the fourth quarter valued at $178,000. Naples Global Advisors LLC purchased a new position in Olin in the fourth quarter valued at $206,000. Fox Run Management L.L.C. purchased a new position in Olin in the fourth quarter valued at $210,000. Finally, Neuberger Berman Group LLC purchased a new position in Olin in the third quarter valued at $216,000. 89.09% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP John L. Mcintosh sold 8,750 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.79, for a total transaction of $286,912.50. Following the completion of the sale, the executive vice president now owns 63,891 shares in the company, valued at $2,094,985.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Donald W. Bogus bought 6,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were acquired at an average price of $33.07 per share, with a total value of $198,420.00. Following the purchase, the director now directly owns 83,118 shares of the company’s stock, valued at approximately $2,748,712.26. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.
OLN has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $42.00 target price on shares of Olin in a report on Thursday, December 14th. Vertical Research raised Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Morgan Stanley initiated coverage on Olin in a report on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 target price on the stock. Zacks Investment Research raised Olin from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Friday, January 12th. Finally, Nomura dropped their target price on Olin from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $39.45.
Olin Co. (OLN) opened at $32.78 on Wednesday. The stock has a market capitalization of $5,539.87, a PE ratio of 38.99, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. Olin Co. has a twelve month low of $27.79 and a twelve month high of $38.84. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31.
Olin (NYSE:OLN) last issued its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $2.45. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.53 billion. Olin had a return on equity of 6.02% and a net margin of 8.77%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. sell-side analysts forecast that Olin Co. will post 2.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Thursday, February 8th. Olin’s payout ratio is 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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