Kensico Capital Management Corp adds Olin Corporation (OLN) to its portfolio

Olin Corporation (OLN) : Kensico Capital Management Corp added new position in Olin Corporation during the most recent quarter end. The investment management firm now holds 1,045,000 shares of Olin Corporation which is valued at $20,952,250 , the company said in a statement filed on Aug 15, 2016 with the SEC.Olin Corporation makes up approximately 0.42% of Kensico Capital Management Corp’s portfolio.

Other Hedge Funds, Including , Brigade Capital Management Lp boosted its stake in OLN in the latest quarter, The investment management firm added 185,000 additional shares and now holds a total of 500,000 shares of Olin Corporation which is valued at $10,025,000. Olin Corporation makes up approx 4.12% of Brigade Capital Management Lp’s portfolio. Westfield Capital Management Co Lp sold out all of its stake in OLN during the most recent quarter. The investment firm sold 205,272 shares of OLN which is valued $4,115,704. Atlantic Trust Group added OLN to its portfolio by purchasing 16,630 company shares during the most recent quarter which is valued at $333,432.Pinnacle Holdings boosted its stake in OLN in the latest quarter, The investment management firm added 190 additional shares and now holds a total of 52,425 shares of Olin Corporation which is valued at $1,098,304. Olin Corporation makes up approx 0.54% of Pinnacle Holdings’s portfolio.

Olin Corporation opened for trading at $21.62 and hit $21.9 on the upside on Thursday, eventually ending the session at $21.72, with a gain of 0.37% or 0.08 points. The heightened volatility saw the trading volume jump to 18,32,174 shares. Company has a market cap of $3,587 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. Olin Corporation was Downgraded by Longbow to ” Underperform” on Sep 7, 2016. Shares were Reiterated by Cowen on Jul 29, 2016 to “Outperform” and Lowered the Price Target to $ 29 from a previous price target of $31 .Shares were Reiterated by RBC Capital Mkts on Jul 22, 2016 to “Outperform” and Lowered the Price Target to $ 24 from a previous price target of $28 .

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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