Louisiana State Employees Retirement System Makes New $978,000 Investment in Olin Corporation $OLN

Louisiana State Employees Retirement System purchased a new stake in Olin Corporation (NYSE:OLN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,900 shares of the specialty chemicals company’s stock, valued at approximately $978,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OLN. Strategic Advocates LLC acquired a new position in shares of Olin in the third quarter worth approximately $25,000. Rockefeller Capital Management L.P. increased its position in Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin during the 1st quarter worth approximately $32,000. Allworth Financial LP raised its holdings in Olin by 114.0% during the 3rd 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, NewEdge Advisors LLC lifted its position in shares of Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Down 0.1%

Olin stock opened at $20.02 on Monday. The company has a market capitalization of $2.28 billion, a PE ratio of -17.87 and a beta of 1.21. Olin Corporation has a 12-month low of $18.08 and a 12-month high of $30.46. The firm’s fifty day moving average is $24.93 and its 200 day moving average is $24.70. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 14th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. Olin’s dividend payout ratio (DPR) is currently -71.43%.

Wall Street Analysts Forecast Growth

OLN has been the subject of several recent analyst reports. UBS Group increased their price objective on shares of Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $37.00 price target on shares of Olin in a research report on Sunday, May 10th. Morgan Stanley increased their price target on Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Citigroup downgraded Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.08.

About Olin

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.