Olin Co. (NYSE:OLN) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in shares of Olin Co. (NYSE:OLN - Free Report) by 131.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,873 shares of the specialty chemicals company's stock after buying an additional 33,405 shares during the period. Teacher Retirement System of Texas owned about 0.05% of Olin worth $1,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Spire Wealth Management increased its stake in Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 1,150 shares during the period. Jones Financial Companies Lllp increased its position in shares of Olin by 59.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock worth $82,000 after acquiring an additional 911 shares during the period. Blue Trust Inc. increased its position in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after acquiring an additional 738 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Olin in the third quarter valued at $212,000. Finally, Crews Bank & Trust purchased a new position in Olin in the fourth quarter valued at $153,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, with a total value of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

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Olin Stock Performance

NYSE OLN traded down $0.35 on Monday, reaching $24.22. The stock had a trading volume of 2,008,370 shares, compared to its average volume of 1,457,270. The stock has a market cap of $2.79 billion, a P/E ratio of 26.91 and a beta of 1.61. Olin Co. has a 12-month low of $22.98 and a 12-month high of $60.60. The business's 50-day moving average price is $27.14 and its 200 day moving average price is $35.97. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN - Get Free Report) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS 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, equities analysts expect that Olin Co. will post 1.38 earnings per share for the current year.

Olin announced that its board has approved a stock buyback program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 3.30%. Olin's dividend payout ratio (DPR) is 88.89%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OLN shares. Royal Bank of Canada lowered Olin from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. KeyCorp reduced their target price on shares of Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. BMO Capital Markets decreased their price target on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Bank of America raised shares of Olin from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, UBS Group set a $28.00 price objective on shares of Olin in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Olin presently has an average rating of "Hold" and a consensus target price of $37.44.

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.