Susquehanna International Group Llp Lowers stake in Olin Corporation (OLN)

Olin Corporation (OLN) : Susquehanna International Group Llp reduced its stake in Olin Corporation by 65.1% during the most recent quarter end. The investment management company now holds a total of 1,970,686 shares of Olin Corporation which is valued at $39,512,254 after selling 3,675,664 shares in Olin Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Olin Corporation makes up approximately 0.21% of Susquehanna International Group Llp’s portfolio.

Other Hedge Funds, Including , Cssil reduced its stake in OLN by selling 31,600 shares or 60.94% in the most recent quarter. The Hedge Fund company now holds 20,258 shares of OLN which is valued at $406,173. Olin Corporation makes up approx 0.06% of Cssil’s portfolio. Picton Mahoney Asset Management added OLN to its portfolio by purchasing 738,600 company shares during the most recent quarter which is valued at $14,808,930. Olin Corporation makes up approx 0.99% of Picton Mahoney Asset Management’s portfolio.Smithfield Trust Co reduced its stake in OLN by selling 397 shares or 1.51% in the most recent quarter. The Hedge Fund company now holds 25,931 shares of OLN which is valued at $541,958. Olin Corporation makes up approx 0.10% of Smithfield Trust Co’s portfolio.Deprince Race Zollo Inc reduced its stake in OLN by selling 366,007 shares or 16.54% in the most recent quarter. The Hedge Fund company now holds 1,847,429 shares of OLN which is valued at $39,424,135. Olin Corporation makes up approx 0.77% of Deprince Race Zollo Inc’s portfolio.Financial Architects Inc reduced its stake in OLN by selling 200 shares or 6.25% in the most recent quarter. The Hedge Fund company now holds 3,000 shares of OLN which is valued at $64,020. Olin Corporation makes up approx 0.02% of Financial Architects Inc’s portfolio.

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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