State of Alaska Department of Revenue Buys 33,930 Shares of Olin Corporation $OLN

State of Alaska Department of Revenue boosted its stake in shares of Olin Corporation (NYSE:OLN) by 35.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,465 shares of the specialty chemicals company’s stock after acquiring an additional 33,930 shares during the quarter. State of Alaska Department of Revenue owned 0.11% of Olin worth $2,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of OLN. Strategic Advocates LLC purchased a new position in Olin in the 3rd quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin during the first quarter valued at approximately $32,000. Bessemer Group Inc. grew its holdings in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,176 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Olin by 114.0% in the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 927 shares during the last quarter. Finally, SJS Investment Consulting Inc. purchased a new position in shares of Olin in the third quarter worth $49,000. 88.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Morgan Stanley cut their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the company a “sector perform” rating in a research report on Friday, April 10th. Citigroup increased their target price on shares of Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.93.

Olin Stock Performance

Shares of OLN stock opened at $26.08 on Friday. The stock has a fifty day moving average of $26.23 and a 200 day moving average of $23.47. Olin Corporation has a 52 week low of $18.08 and a 52 week high of $30.46. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -68.64 and a beta of 1.37. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. Olin’s payout ratio is presently -210.53%.

Insider Activity at Olin

In related news, CFO Todd A. Slater sold 92,250 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the transaction, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP R Nichole Sumner sold 4,750 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the transaction, the vice president directly owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,379 shares of company stock worth $2,238,298 over the last 90 days. 1.60% of the stock is owned by company insiders.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.