Olin Co. (NYSE:OLN) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in Olin Co. (NYSE:OLN - Free Report) by 495.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,655 shares of the specialty chemicals company's stock after acquiring an additional 64,610 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of Olin worth $3,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC lifted its position in Olin by 429.8% during the second quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company's stock worth $28,769,000 after purchasing an additional 494,976 shares during the period. Boston Partners boosted its position in Olin by 7.7% during the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company's stock valued at $317,897,000 after acquiring an additional 384,888 shares during the last quarter. Lodge Hill Capital LLC increased its stake in shares of Olin by 78.9% in the 1st quarter. Lodge Hill Capital LLC now owns 510,000 shares of the specialty chemicals company's stock valued at $29,988,000 after acquiring an additional 225,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company's stock valued at $176,396,000 after acquiring an additional 194,755 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Olin by 2,778.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 168,582 shares of the specialty chemicals company's stock valued at $7,949,000 after purchasing an additional 162,725 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Performance

Shares of NYSE:OLN traded down $0.10 during midday trading on Thursday, reaching $41.03. The company's stock had a trading volume of 1,604,236 shares, compared to its average volume of 1,167,862. The firm has a market capitalization of $4.82 billion, a PE ratio of 33.18, a P/E/G ratio of 1.01 and a beta of 1.41. The stock has a fifty day moving average of $44.67 and a 200 day moving average of $47.83. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. Olin Co. has a twelve month low of $39.47 and a twelve month high of $60.60.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, November 14th. Olin's payout ratio is currently 64.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on OLN shares. Barclays cut their price target on shares of Olin from $49.00 to $45.00 and set an "equal weight" rating on the stock in a report on Monday. Royal Bank of Canada reduced their target price on Olin from $52.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday. Wells Fargo & Company lowered their price objective on Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday. The Goldman Sachs Group cut their price target on shares of Olin from $55.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, July 29th. Finally, Bank of America lowered Olin from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $62.00 to $51.00 in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Olin currently has an average rating of "Hold" and an average price target of $51.86.

About Olin

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.