State of Alaska Department of Revenue Has $3.73 Million Stock Position in Olin Co. (NYSE:OLN)

State of Alaska Department of Revenue grew its stake in Olin Co. (NYSE:OLN) by 495.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,655 shares of the specialty chemicals company’s stock after purchasing an additional 64,610 shares during the quarter. State of Alaska Department of Revenue’s holdings in Olin were worth $3,725,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in shares of Olin in the 1st quarter valued at $28,000. EverSource Wealth Advisors LLC raised its stake in Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 525 shares during the period. nVerses Capital LLC acquired a new stake in Olin during the 2nd quarter worth $33,000. Headlands Technologies LLC acquired a new stake in Olin during the 1st quarter worth $69,000. Finally, Denver PWM LLC acquired a new stake in Olin during the 2nd quarter worth $59,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Shares of NYSE OLN opened at $41.14 on Thursday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 1.01 and a beta of 1.41. The business has a 50-day moving average of $44.72 and a 200-day moving average of $47.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin Co. has a fifty-two week low of $39.47 and a fifty-two week high of $60.60.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Royal Bank of Canada dropped their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday. Barclays dropped their price objective on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Bank of America cut Olin from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $62.00 to $51.00 in a report on Monday, July 29th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.86.

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.