Louisiana State Employees Retirement System Invests $978,000 in Olin Corporation $OLN

Louisiana State Employees Retirement System bought a new position in Olin Corporation (NYSE:OLN) during the first quarter, HoldingsChannel reports. The firm bought 32,900 shares of the specialty chemicals company’s stock, valued at approximately $978,000.

Other hedge funds have also bought and sold shares of the company. Strategic Advocates LLC acquired a new position in Olin during the third quarter worth $25,000. Rockefeller Capital Management L.P. lifted its stake in shares of Olin by 115.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin during the first quarter valued at about $32,000. Allworth Financial LP grew its holdings in shares of Olin by 114.0% during the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 927 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 721 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Analyst Ratings Changes

OLN has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, May 11th. The Goldman Sachs Group boosted their price objective on Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research note on Friday, May 22nd. Wall Street Zen lowered Olin from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Olin currently has an average rating of “Hold” and an average target price of $27.08.

Olin Stock Performance

Shares of OLN stock opened at $20.02 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82. The firm has a 50-day moving average of $24.93 and a 200-day moving average of $24.70. Olin Corporation has a one year low of $18.08 and a one year high of $30.46. The company has a market cap of $2.28 billion, a P/E ratio of -17.87 and a beta of 1.21.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend 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%.

Olin Company Profile

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.