Olin Co. (NYSE:OLN) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council boosted its position in shares of Olin Co. (NYSE:OLN) by 279.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,392 shares of the specialty chemicals company’s stock after buying an additional 44,492 shares during the period. South Dakota Investment Council’s holdings in Olin were worth $3,258,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in Olin during the fourth quarter valued at about $96,000. Illinois Municipal Retirement Fund boosted its position in shares of Olin by 37.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 35,433 shares of the specialty chemicals company’s stock valued at $1,912,000 after purchasing an additional 9,703 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Olin by 5.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 24,457 shares of the specialty chemicals company’s stock valued at $1,319,000 after purchasing an additional 1,366 shares during the period. OLD National Bancorp IN acquired a new position in shares of Olin in the 4th quarter valued at $361,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Olin by 14.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,067 shares of the specialty chemicals company’s stock valued at $1,191,000 after purchasing an additional 2,776 shares during the period. Institutional investors own 88.67% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. KeyCorp increased their price target on Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Citigroup increased their price target on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their price target on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on Olin from $64.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Barclays increased their price objective on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Olin currently has a consensus rating of “Hold” and an average target price of $59.33.

Olin Stock Down 0.9 %

OLN opened at $53.08 on Thursday. Olin Co. has a fifty-two week low of $41.71 and a fifty-two week high of $60.60. The business has a 50-day moving average of $55.61 and a 200-day moving average of $51.58. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. The company has a market capitalization of $6.35 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. Olin had a return on equity of 18.44% and a net margin of 6.74%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.50 billion. Equities research analysts forecast that Olin Co. will post 3.75 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Wednesday, March 6th. Olin’s payout ratio is 22.60%.

Insider Activity at Olin

In related news, CEO Scott Mcdougald Sutton sold 539,328 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the transaction, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott Mcdougald Sutton sold 539,328 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the transaction, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Valerie A. Peters sold 71,800 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the sale, the vice president now directly owns 19,469 shares in the company, valued at approximately $1,022,511.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 753,274 shares of company stock valued at $40,434,124. Corporate insiders own 1.60% of the company’s stock.

Olin 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.