Oarsman Capital adds Olin Corporation (OLN) to its portfolio

Olin Corporation (OLN) : Oarsman Capital added new position in Olin Corporation during the most recent quarter end. The investment management firm now holds 148,345 shares of Olin Corporation which is valued at $3.1 Million , the company said in a statement filed on May 12, 2016 with the SEC.Olin Corporation makes up approximately 1.70% of Oarsman Capital’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in OLN in the latest quarter, The investment management firm added 5,726 additional shares and now holds a total of 24,459 shares of Olin Corporation which is valued at $519,020.Barrow Hanley Mewhinney Strauss boosted its stake in OLN in the latest quarter, The investment management firm added 6,917 additional shares and now holds a total of 125,465 shares of Olin Corporation which is valued at $2.7 Million.Blackrock Institutional Trust Company N.a. boosted its stake in OLN in the latest quarter, The investment management firm added 252,683 additional shares and now holds a total of 4,780,593 shares of Olin Corporation which is valued at $101.4 Million. Olin Corporation makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio.Bluecrest Capital Management Ltd reduced its stake in OLN by selling 144,940 shares or 44.76% in the most recent quarter. The Hedge Fund company now holds 178,900 shares of OLN which is valued at $3.9 Million. Olin Corporation makes up approx 0.35% of Bluecrest Capital Management Ltd’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in OLN in the latest quarter, The investment management firm added 14,197 additional shares and now holds a total of 32,055 shares of Olin Corporation which is valued at $698,478. Olin Corporation makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio.

Olin Corporation opened for trading at $20.62 and hit $20.92 on the upside on Friday, eventually ending the session at $20.77, with a gain of 1.12% or 0.23 points. The heightened volatility saw the trading volume jump to 20,49,676 shares. Company has a market cap of $3,430 M.

On the company’s financial health, Olin Corporation reported $0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Nov 2, 2015. Analyst had a consensus of $0.31. The company had revenue of $533.60 million for the quarter, compared to analysts expectations of $573.06 million. The company’s revenue was down -10.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Olin Corporation. Company shares were Reiterated by Nomura on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $20 .Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $22 .

Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda hydrochloric acid hydrogen bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda bleach products potassium hydroxide and hydrochloric acid. Winchester products segments include sporting ammunition reloading components small caliber military ammunition and components and industrial cartridges. The Company’s subsidiary Olin Canada ULC operates one chlor alkali facility in Becancour Canada which sells chlor alkali-related products within Canada and to the United States and also sells and distributes ammunition within Canada. Its subsidiary Winchester Australia Limited loads and packs sporting and industrial ammunition in Australia.

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