Olin Co. (NYSE:OLN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Olin Co. (NYSE:OLN) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,053 shares of the specialty chemicals company’s stock after selling 1,502 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Olin worth $4,058,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares during the period. Entropy Technologies LP boosted its stake in Olin by 2.5% during the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares during the period. Nisa Investment Advisors LLC boosted its stake in Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after purchasing an additional 350 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in Olin by 9.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock valued at $197,000 after acquiring an additional 500 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on OLN shares. Morgan Stanley cut their price target on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Barclays dropped their price target on Olin from $43.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered Olin from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $41.00 to $33.00 in a research report on Thursday, February 13th. Finally, BMO Capital Markets reduced their price target on Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Olin has an average rating of “Hold” and an average price target of $40.44.

Olin Stock Performance

OLN opened at $27.52 on Friday. The business’s 50-day moving average price is $31.71 and its two-hundred day moving average price is $39.31. Olin Co. has a 1 year low of $26.48 and a 1 year high of $60.60. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 30.57 and a beta of 1.45. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Equities analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin announced that its Board of Directors has initiated a share repurchase program on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Olin Company 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.