Teacher Retirement System of Texas Lowers Holdings in Olin Corporation $OLN

Teacher Retirement System of Texas reduced its holdings in shares of Olin Corporation (NYSE:OLN) by 18.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,419 shares of the specialty chemicals company’s stock after selling 7,454 shares during the period. Teacher Retirement System of Texas’ holdings in Olin were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D grew its stake in shares of Olin by 32.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 96,438 shares of the specialty chemicals company’s stock worth $1,937,000 after acquiring an additional 23,548 shares in the last quarter. AlphaQuest LLC boosted its holdings in Olin by 52.0% in the second quarter. AlphaQuest LLC now owns 6,853 shares of the specialty chemicals company’s stock valued at $138,000 after purchasing an additional 2,343 shares during the period. First Citizens Bank & Trust Co. grew its stake in Olin by 201.5% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 30,988 shares of the specialty chemicals company’s stock worth $623,000 after purchasing an additional 20,710 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Olin during the 2nd quarter worth about $1,245,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Olin by 274.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 31,866 shares of the specialty chemicals company’s stock worth $640,000 after purchasing an additional 23,352 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Up 1.4%

Shares of NYSE:OLN opened at $19.39 on Friday. The firm has a 50 day simple moving average of $23.66 and a 200-day simple moving average of $21.83. Olin Corporation has a twelve month low of $17.66 and a twelve month high of $44.76. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $2.21 billion, a PE ratio of 42.15, a P/E/G ratio of 6.37 and a beta of 1.79.

Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.09 by $0.31. Olin had a net margin of 0.79% and a return on equity of 3.36%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business earned ($0.21) EPS. Olin’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. Olin’s dividend payout ratio is 173.91%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OLN. Fermium Researc upgraded Olin to a “strong-buy” rating in a research note on Thursday, September 25th. Citigroup reiterated a “neutral” rating on shares of Olin in a research note on Wednesday, October 29th. Mizuho set a $26.00 price target on shares of Olin in a report on Friday, October 3rd. Wall Street Zen upgraded shares of Olin from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Royal Bank Of Canada set a $26.00 price objective on shares of Olin and gave the stock a “sector perform” rating in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.00.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of Olin stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the transaction, the vice president owned 17,199 shares of the company’s stock, valued at $363,070.89. The trade was a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

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.