Texas Permanent School Fund Corp Has $6.52 Million Stake in Olin Co. (NYSE:OLN)

Texas Permanent School Fund Corp grew its holdings in Olin Co. (NYSE:OLN) by 31.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 138,204 shares of the specialty chemicals company’s stock after purchasing an additional 33,006 shares during the quarter. Texas Permanent School Fund Corp owned about 0.12% of Olin worth $6,516,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. OLD National Bancorp IN lifted its position in Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 253 shares in the last quarter. Financial Advocates Investment Management grew its stake in shares of Olin by 5.5% during the fourth quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock valued at $274,000 after purchasing an additional 266 shares during the last quarter. Scott & Selber Inc. increased its holdings in shares of Olin by 1.7% in the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock valued at $906,000 after purchasing an additional 326 shares in the last quarter. LRI Investments LLC bought a new position in Olin in the 1st quarter worth approximately $28,000. Finally, US Bancorp DE lifted its holdings in Olin by 4.5% during the 4th quarter. US Bancorp DE now owns 11,703 shares of the specialty chemicals company’s stock worth $631,000 after buying an additional 507 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

Shares of Olin stock opened at $40.82 on Thursday. The stock’s fifty day simple moving average is $44.29 and its 200 day simple moving average is $50.59. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $4.87 billion, a PE ratio of 14.68, a PEG ratio of 0.90 and a beta of 1.41. Olin Co. has a 12 month low of $39.47 and a 12 month high of $60.60.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $1.13 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts predict that Olin Co. will post 1.61 EPS for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analysts Forecast Growth

OLN has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Monday, July 29th. Barclays dropped their price objective on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group reduced their target price on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. KeyCorp dropped their price target on shares of Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.73.

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.