VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.25 Million in Olin Corporation $OLN

Key Points

• Virginia Retirement Systems invested approximately $1.25 million in Olin Corporation, acquiring around 61,978 shares during the second quarter, holding 0.05% of the company's stock.
• Olin's quarterly earnings report showed a missed EPS estimate of $0.05 compared to the expectations of $0.09, despite the company's revenue exceeding estimates at $1.76 billion.
• The company announced a quarterly dividend of $0.20, representing a 3.5% yield, although its dividend payout ratio stands at a significant negative percentage, indicating potential financial strain.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Olin Corporation (NYSE:OLN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 61,978 shares of the specialty chemicals company's stock, valued at approximately $1,245,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.05% of Olin at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC raised its holdings in Olin by 11.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock valued at $295,514,000 after buying an additional 1,259,795 shares during the period. Vanguard Group Inc. raised its holdings in Olin by 2.1% in the first quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company's stock valued at $284,786,000 after buying an additional 245,604 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Olin by 40.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock valued at $154,766,000 after buying an additional 1,840,900 shares during the period. Dimensional Fund Advisors LP raised its holdings in Olin by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock valued at $110,204,000 after buying an additional 569,483 shares during the period. Finally, Yacktman Asset Management LP raised its holdings in Olin by 3.1% in the first quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock valued at $97,451,000 after buying an additional 122,247 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Stock Performance

Olin stock opened at $22.64 on Thursday. The company has a market cap of $2.60 billion, a PE ratio of -188.66 and a beta of 1.68. The company has a fifty day moving average price of $23.93 and a two-hundred day moving average price of $21.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.48 and a quick ratio of 0.88. Olin Corporation has a 12 month low of $17.66 and a 12 month high of $45.81.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Research analysts expect that Olin Corporation will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Thursday, August 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, August 28th. Olin's dividend payout ratio (DPR) is presently -666.67%.

Analyst Ratings Changes

OLN has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Olin from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Royal Bank Of Canada set a $26.00 price target on shares of Olin and gave the stock a "sector perform" rating in a research report on Tuesday, October 14th. KeyCorp decreased their price target on shares of Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. UBS Group raised their price target on shares of Olin from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Finally, Fermium Researc raised shares of Olin to a "strong-buy" rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.71.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the sale, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

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.

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