New York State Teachers Retirement System Sells 21,801 Shares of Olin Co. (NYSE:OLN)

New York State Teachers Retirement System lowered its stake in Olin Co. (NYSE:OLN - Free Report) by 15.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,555 shares of the specialty chemicals company's stock after selling 21,801 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Olin worth $5,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its position in shares of Olin by 344.3% in the second quarter. Harbor Capital Advisors Inc. now owns 40,760 shares of the specialty chemicals company's stock worth $1,922,000 after purchasing an additional 31,587 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Olin by 1,220.6% during the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company's stock valued at $2,360,000 after buying an additional 46,260 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Olin by 4.8% during the 1st quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company's stock valued at $45,726,000 after acquiring an additional 35,637 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Olin during the 1st quarter valued at $28,000. Finally, Seven Eight Capital LP increased its stake in shares of Olin by 111.4% in the first quarter. Seven Eight Capital LP now owns 20,416 shares of the specialty chemicals company's stock worth $1,200,000 after acquiring an additional 10,760 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Stock Performance

Olin stock traded up $1.85 on Wednesday, hitting $43.62. The company's stock had a trading volume of 2,627,924 shares, compared to its average volume of 1,180,917. Olin Co. has a one year low of $39.47 and a one year high of $60.60. The firm has a market cap of $5.09 billion, a P/E ratio of 34.85, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $44.47 and a 200-day moving average price of $47.45.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, November 14th. Olin's dividend payout ratio (DPR) is presently 64.52%.

Analyst Ratings Changes

A number of analysts have issued reports on OLN shares. UBS Group reduced their target price on shares of Olin from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, July 9th. Piper Sandler reduced their target price on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. BMO Capital Markets reduced their price objective on shares of Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Olin from $57.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, July 29th. Finally, KeyCorp cut their target price on shares of Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Olin currently has a consensus rating of "Hold" and a consensus target price of $51.86.

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.