Teacher Retirement System of Texas Sells 18,000 Shares of Olin Corporation (NYSE:OLN)

Teacher Retirement System of Texas trimmed its position in Olin Corporation (NYSE:OLN - Free Report) by 30.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 40,873 shares of the specialty chemicals company's stock after selling 18,000 shares during the period. Teacher Retirement System of Texas' holdings in Olin were worth $991,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of OLN. Fifth Third Bancorp lifted its stake in shares of Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Olin in the first quarter valued at $31,000. Covestor Ltd increased its holdings in Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 419 shares during the period. Farther Finance Advisors LLC increased its holdings in Olin by 183.8% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock valued at $63,000 after purchasing an additional 1,713 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in Olin in the fourth quarter valued at $66,000. 88.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of recent research reports. Mizuho decreased their price objective on Olin from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday. Wall Street Zen downgraded Olin from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Citigroup decreased their price target on Olin from $26.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Wells Fargo & Company increased their price target on Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price target on Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Olin currently has a consensus rating of "Hold" and a consensus target price of $27.33.

Olin Stock Up 2.2%

Shares of OLN traded up $0.44 during trading hours on Thursday, hitting $20.89. The stock had a trading volume of 1,848,055 shares, compared to its average volume of 1,744,903. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $20.71 and a 200-day simple moving average of $24.34. The firm has a market capitalization of $2.41 billion, a P/E ratio of 40.96 and a beta of 1.52. Olin Corporation has a 1-year low of $17.66 and a 1-year high of $50.61.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. Sell-side analysts predict that Olin Corporation will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.83%. Olin's payout ratio is 156.86%.

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.