Olin Corporation (OLN) : Traders are bullish on Olin Corporation (OLN) as it has outperformed the S&P 500 by a wide margin of 2.95% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.42%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.38% in the last 1 week, and is up 3.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Olin Corp. is up 3.69% in the last 3-month period. Year-to-Date the stock performance stands at 27.83%. The stock has recorded a 20-day Moving Average of 3.17% and the 50-Day Moving Average is 6.76%.
Olin Corporation (NYSE:OLN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.52 and $20.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.33, notching a gain of 3.59% for the day. The total traded volume was 2,696,653 . The stock had closed at $20.59 on the previous day.
Also, Major Brokerage house, Cowen & Company upgrades its ratings on Olin Corporation (NYSE:OLN). According to the latest information available, the shares are now rated Outperform by the analysts at the agency. Previously, the analysts had a Market Perform rating on the shares. The rating by the firm was issued on June 28, 2016.
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 Companys 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.