Alaska Permanent Fund Corp Sells 7,550 Shares of Olin Co. (NYSE:OLN)

Alaska Permanent Fund Corp decreased its holdings in Olin Co. (NYSE:OLN) by 16.7% in the 4th quarter, HoldingsChannel reports. The firm owned 37,750 shares of the specialty chemicals company’s stock after selling 7,550 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Olin were worth $2,037,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of OLN. Baystate Wealth Management LLC grew its stake in shares of Olin by 154.6% during the third quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Covestor Ltd increased its stake in shares of Olin by 76.7% in the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 286 shares during the period. Sandy Spring Bank raised its position in shares of Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 364 shares during the last quarter. Motco acquired a new position in shares of Olin during the third quarter valued at $40,000. Finally, ORG Partners LLC bought a new position in Olin in the third quarter valued at about $44,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Stock Performance

Shares of OLN stock opened at $53.80 on Friday. Olin Co. has a 12 month low of $41.71 and a 12 month high of $60.60. The company’s fifty day simple moving average is $55.61 and its 200-day simple moving average is $51.59. The firm has a market cap of $6.44 billion, a PE ratio of 14.92, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, April 25th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. Equities research analysts expect that Olin Co. will post 3.73 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 6th. This represents a $0.80 annualized dividend and a yield of 1.49%. Olin’s dividend payout ratio (DPR) is presently 22.60%.

Insider Buying and Selling at Olin

In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares in the company, valued at approximately $4,732,231.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Valerie A. Peters sold 71,800 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the sale, the vice president now directly owns 19,469 shares in the company, valued at approximately $1,022,511.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the transaction, the chief executive officer now directly owns 90,327 shares in the company, valued at approximately $4,732,231.53. The disclosure for this sale can be found here. Insiders sold a total of 753,274 shares of company stock worth $40,434,124 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OLN shares. Stifel Nicolaus lifted their target price on shares of Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, January 29th. KeyCorp boosted their target price on Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. UBS Group increased their price target on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. The Goldman Sachs Group boosted their price objective on shares of Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Finally, Barclays increased their target price on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Olin has an average rating of “Hold” and a consensus price target of $59.33.

Olin Profile

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.