Illinois Municipal Retirement Fund Purchases 9,703 Shares of Olin Co. (NYSE:OLN)

Illinois Municipal Retirement Fund raised its position in Olin Co. (NYSE:OLN) by 37.7% in the 4th quarter, Holdings Channel reports. The firm owned 35,433 shares of the specialty chemicals company’s stock after buying an additional 9,703 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Olin were worth $1,912,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Baystate Wealth Management LLC lifted its holdings in shares of Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Sandy Spring Bank lifted its holdings in shares of Olin by 145.6% during the 4th 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. Covestor Ltd lifted its holdings in shares of Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 286 shares during the last quarter. Motco bought a new stake in shares of Olin during the 3rd quarter worth $40,000. Finally, ORG Partners LLC bought a new stake in shares of Olin during the 3rd quarter worth $44,000. 88.67% of the stock is owned by institutional investors.

Insider Activity at Olin

In related news, CEO Scott Mcdougald Sutton sold 539,328 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the transaction, the chief executive officer now owns 47,620 shares in the company, valued at $2,569,575.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Olin news, VP Valerie A. Peters sold 71,800 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total transaction of $3,770,936.00. Following the completion of the sale, the vice president now directly owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the sale, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at $2,569,575.20. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock worth $40,434,124 over the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Wells Fargo & Company boosted their price target on shares of Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 3rd. Citigroup boosted their price target on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their price target on shares of Olin from $64.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, UBS Group boosted their price target on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Olin presently has a consensus rating of “Hold” and a consensus price target of $59.33.

Olin Trading Down 0.5 %

Shares of NYSE OLN opened at $52.81 on Friday. The firm’s 50 day moving average price is $55.61 and its 200-day moving average price is $51.59. The company has a market cap of $6.32 billion, a PE ratio of 14.92, a P/E/G ratio of 0.29 and a beta of 1.44. Olin Co. has a 52-week low of $41.71 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.73 and a current ratio of 1.29.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.50 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. On average, equities research analysts expect that Olin Co. will post 3.73 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed 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 of this dividend was Wednesday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. Olin’s dividend payout ratio (DPR) is 22.60%.

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.