Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Olin Co. (NYSE:OLN) by 49.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,130 shares of the specialty chemicals company’s stock after buying an additional 3,004 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Olin were worth $325,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Monarch Partners Asset Management LLC purchased a new stake in shares of Olin during the 3rd quarter valued at $10,421,000. Boston Partners grew its stake in shares of Olin by 2.2% during the 3rd quarter. Boston Partners now owns 646,387 shares of the specialty chemicals company’s stock valued at $22,139,000 after buying an additional 14,197 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Olin during the 2nd quarter valued at $396,000. Shell Asset Management Co. purchased a new stake in shares of Olin during the 3rd quarter valued at $1,793,000. Finally, Principal Financial Group Inc. grew its stake in shares of Olin by 8.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,060,870 shares of the specialty chemicals company’s stock valued at $36,335,000 after buying an additional 82,355 shares during the period. 90.08% of the stock is owned by institutional investors.
Shares of Olin Co. (OLN) opened at $32.67 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31. Olin Co. has a 12-month low of $27.79 and a 12-month high of $38.84. The firm has a market cap of $5,459.16, a price-to-earnings ratio of 38.44, a P/E/G ratio of 1.12 and a beta of 1.36.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.45%. Olin’s dividend payout ratio (DPR) is 24.69%.
In other Olin news, Director Randall W. Larrimore purchased 800 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $31.28 per share, with a total value of $25,024.00. Following the transaction, the director now owns 6,500 shares in the company, valued at $203,320. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.
Several analysts have recently issued reports on the stock. SunTrust Banks reissued a “buy” rating on shares of Olin in a research note on Tuesday, February 13th. Morgan Stanley set a $41.00 price objective on shares of Olin and gave the company a “buy” rating in a research note on Monday, February 12th. Citigroup set a $40.00 price objective on shares of Olin and gave the company a “buy” rating in a research note on Monday, February 12th. Cowen reissued a “buy” rating and set a $41.00 price objective on shares of Olin in a research note on Friday, February 9th. Finally, Zacks Investment Research cut shares of Olin from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $39.80.
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.
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