Olin Co. (OLN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in shares of Olin Co. (NYSE:OLN) by 9.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 275,723 shares of the specialty chemicals company’s stock after selling 28,179 shares during the quarter. California State Teachers Retirement System owned 0.17% of Olin worth $9,444,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC grew its position in Olin by 7,869.7% in the third quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock valued at $68,240,000 after acquiring an additional 1,967,417 shares in the last quarter. King Street Capital Management L.P. grew its position in Olin by 50.0% in the second quarter. King Street Capital Management L.P. now owns 3,000,000 shares of the specialty chemicals company’s stock valued at $90,840,000 after acquiring an additional 1,000,000 shares in the last quarter. BlueCrest Capital Management Ltd grew its position in Olin by 481.0% in the second quarter. BlueCrest Capital Management Ltd now owns 680,828 shares of the specialty chemicals company’s stock valued at $20,615,000 after acquiring an additional 563,647 shares in the last quarter. TVR Capital Management LP grew its position in Olin by 714.0% in the second quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock valued at $13,401,000 after acquiring an additional 388,225 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Olin by 5.1% in the second quarter. TIAA CREF Investment Management LLC now owns 8,039,915 shares of the specialty chemicals company’s stock valued at $243,449,000 after acquiring an additional 386,791 shares in the last quarter. 89.68% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman John E. Fischer sold 37,583 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total transaction of $1,383,054.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Dolores J. Ennico sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $552,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,083 shares of company stock valued at $2,741,284. Company insiders own 2.90% of the company’s stock.

Several brokerages have issued reports on OLN. TheStreet raised shares of Olin from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Olin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 4th. Cowen reaffirmed an “outperform” rating and issued a $42.00 price objective (up previously from $39.00) on shares of Olin in a research report on Tuesday, October 10th. SunTrust Banks reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Olin in a research report on Monday, November 6th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $42.00 target price on shares of Olin in a research note on Thursday, December 14th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $38.00.

Olin Co. (NYSE OLN) opened at $34.95 on Wednesday. The company has a market capitalization of $5,757.40, a P/E ratio of 77.67, a PEG ratio of 2.70 and a beta of 1.39. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.72. Olin Co. has a one year low of $25.43 and a one year high of $37.52.

Olin (NYSE:OLN) last released its earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Olin had a net margin of 1.29% and a return on equity of 6.05%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. sell-side analysts anticipate that Olin Co. will post 0.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Thursday, November 9th. Olin’s dividend payout ratio (DPR) is currently 177.78%.

ILLEGAL ACTIVITY WARNING: “Olin Co. (OLN) Shares Sold by California State Teachers Retirement System” was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2017/12/27/olin-co-oln-shares-sold-by-california-state-teachers-retirement-system.html.

Olin Profile

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Want to see what other hedge funds are holding OLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olin Co. (NYSE:OLN).

Institutional Ownership by Quarter for Olin (NYSE:OLN)

Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit