Baupost Groupma buys $227.9 Million stake in Olin Corporation (OLN)

Olin Corporation (OLN) : Baupost Groupma scooped up 3,739,202 additional shares in Olin Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 10,739,202 shares of Olin Corporation which is valued at $227.9 Million.Olin Corporation makes up approximately 3.33% of Baupost Groupma’s portfolio.

Other Hedge Funds, Including , Dreman Value Management L L C added OLN to its portfolio by purchasing 262,005 company shares during the most recent quarter which is valued at $5.6 Million. Olin Corporation makes up approx 0.63% of Dreman Value Management L L C’s portfolio. Oarsman Capital added OLN to its portfolio by purchasing 148,345 company shares during the most recent quarter which is valued at $3.1 Million. Olin Corporation makes up approx 1.70% of Oarsman Capital’s portfolio. Cornerstone Capital Management Holdings. added OLN to its portfolio by purchasing 1,912 company shares during the most recent quarter which is valued at $40,573.Monetary Management Group Inc boosted its stake in OLN in the latest quarter, The investment management firm added 92,480 additional shares and now holds a total of 93,480 shares of Olin Corporation which is valued at $2 Million. Olin Corporation makes up approx 0.98% of Monetary Management Group Inc’s portfolio.Norinchukin Bank The reduced its stake in OLN by selling 10,000 shares or 25.0% in the most recent quarter. The Hedge Fund company now holds 30,000 shares of OLN which is valued at $636,600. Olin Corporation makes up approx 0.02% of Norinchukin Bank The’s portfolio.

Olin Corporation opened for trading at $21.93 and hit $22.535 on the upside on Wednesday, eventually ending the session at $22.41, with a gain of 3.08% or 0.67 points. The heightened volatility saw the trading volume jump to 27,52,656 shares. Company has a market cap of $3,701 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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