Olin Co. (NYSE:OLN) stake eliminated by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System increased its stake in Olin Co. (NYSE:OLN – Free Report) by 3.8% during the first quarter, according to its most recent SEC filing. The fund owned 148,429 shares of the specialty chemicals company after buying an additional 5,391 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.12% of Olin worth $8,238,000, according to its most recent SEC filing.

Other hedge funds and institutional investors have also recently modified their holdings in the company. Boston Partners increased its position in Olin by 122.8% in the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock worth $271,152,000 after purchasing an additional 2,772,274 shares in the last quarter. South Dakota Investment Council increased its holdings in Olin by 279.8% in the fourth quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock worth $3,258,000 after purchasing an additional 44,492 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Olin by 34.6% in the fourth quarter. BNP Paribas Financial Markets now owns 188,973 shares of the specialty chemicals company’s stock worth $10,195,000 after purchasing an additional 48,625 shares during the period. Dimensional Fund Advisors LP increased its holdings in Olin by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock worth $196,167,000 after purchasing an additional 126,587 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Olin in the 4th quarter worth approximately $3,350,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

Shares of NYSE OLN opened Friday at $48.11. The stock’s 50-day simple moving average is $50.58 and its 200-day simple moving average is $52.91. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.31 and a beta of 1.44. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60.

Olin (NYSE:OLN – Get Free Report) last released its quarterly earnings results on Friday, April 26. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. In the year-ago quarter, the company posted $1.16 EPS. Olin’s revenue declined 11.3% year over year. As a group, sell-side analysts predict that Olin Co. will post $3.32 EPS for the current fiscal year.

Olin announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.20 per share, with the ex-dividend date being Wednesday, May 8th. This represents an annualized dividend of $0.80 and a dividend yield of 1.66%. Olin’s dividend payout ratio is currently 28.78%.

Analysts set new price targets

A number of brokerages have issued reports on OLN. Citigroup increased their price target on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Royal Bank of Canada decreased their price target on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Stifel Nicolaus increased their price target on shares of Olin from $68.00 to $69.00 and set a “buy” rating for the stock in a research report on Monday, April 29th. KeyCorp decreased their price target on shares of Olin from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, UBS Group lowered their price target on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Two equities analysts have rated the stock with a sell rating, eight have given a hold rating, and six have given a buy rating to the company. Based on data from MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus price target of $59.27.

Check out our latest stock analysis on OLN

Olin Company Profile

(Free Report)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America and Canada. The company 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, bleaching products, potassium hydroxide, and chlorinated organic intermediates and solvents.

Olin Stock Performance

Olin announces dividend

Analysts set new price targets

Olin Company Profile

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