Canada Pension Plan Investment Board Has $2.79 Million Holdings in Olin Co. (NYSE:OLN)

Canada Pension Plan Investment Board raised its holdings in shares of Olin Co. (NYSE:OLN - Free Report) by 481.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,600 shares of the specialty chemicals company's stock after acquiring an additional 68,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of Olin worth $2,792,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OLN. Barclays PLC increased its stake in Olin by 37.7% in the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock valued at $6,042,000 after buying an additional 34,485 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Olin in the third quarter worth $256,000. Synovus Financial Corp acquired a new position in shares of Olin in the third quarter worth $253,000. Franklin Resources Inc. raised its holdings in shares of Olin by 19.2% during the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company's stock worth $51,015,000 after acquiring an additional 172,768 shares in the last quarter. Finally, First Hawaiian Bank boosted its position in Olin by 9.0% during the fourth quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company's stock valued at $732,000 after purchasing an additional 1,785 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OLN. Citigroup cut their price target on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada cut shares of Olin from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. Bank of America upgraded shares of Olin from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. KeyCorp reduced their price objective on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley cut their target price on Olin from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Olin currently has a consensus rating of "Hold" and an average target price of $33.25.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company's stock.

Olin Stock Up 3.4 %

OLN opened at $21.59 on Wednesday. Olin Co. has a 1-year low of $17.66 and a 1-year high of $57.10. The business has a 50 day moving average of $23.74 and a 200-day moving average of $32.99. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 23.99 and a beta of 1.50. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. As a group, sell-side analysts anticipate that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a yield of 3.71%. Olin's dividend payout ratio is 88.89%.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, and chlorinated organics intermediates and solvents.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.