Stelliam Investment Management Lp adds Olin Corporation (OLN) to its portfolio

Olin Corporation (OLN) : Stelliam Investment Management Lp added new position in Olin Corporation during the most recent quarter end. The investment management firm now holds 1,567,500 shares of Olin Corporation which is valued at $31,428,375 , the company said in a statement filed on Aug 15, 2016 with the SEC.Olin Corporation makes up approximately 1.09% of Stelliam Investment Management Lp’s portfolio.

Other Hedge Funds, Including , London Co Of Virginia boosted its stake in OLN in the latest quarter, The investment management firm added 204,785 additional shares and now holds a total of 5,178,141 shares of Olin Corporation which is valued at $103,821,727. Olin Corporation makes up approx 0.81% of London Co Of Virginia’s portfolio. Delphi Private Advisors added OLN to its portfolio by purchasing 49 company shares during the most recent quarter which is valued at $982. Mufg Americas Holdings Corp sold out all of its stake in OLN during the most recent quarter. The investment firm sold 530 shares of OLN which is valued $10,955.Lsv Asset Management reduced its stake in OLN by selling 274,600 shares or 60.21% in the most recent quarter. The Hedge Fund company now holds 181,480 shares of OLN which is valued at $3,782,043. Olin Corporation makes up approx 0.01% of Lsv Asset Management’s portfolio. Quantitative Systematic Strategies sold out all of its stake in OLN during the most recent quarter. The investment firm sold 84,833 shares of OLN which is valued $1,773,010.

Olin Corporation closed down -1.26 points or -5.79% at $20.49 with 5,889,176 shares getting traded on Wednesday. Post opening the session at $20.77, the shares hit an intraday low of $20.29 and an intraday high of $20.88 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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