Baupost Groupma Lowers stake in Olin Corporation (OLN)

Olin Corporation (OLN) : Baupost Groupma reduced its stake in Olin Corporation by 42.44% during the most recent quarter end. The investment management company now holds a total of 6,181,302 shares of Olin Corporation which is valued at $150,391,078 after selling 4,557,900 shares in Olin Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Olin Corporation makes up approximately 2.14% of Baupost Groupma’s portfolio.

Other Hedge Funds, Including , Interval Partners Lp sold out all of its stake in OLN during the most recent quarter. The investment firm sold 53,939 shares of OLN which is valued $1,312,336.Profund Advisors reduced its stake in OLN by selling 8,945 shares or 17.35% in the most recent quarter. The Hedge Fund company now holds 42,604 shares of OLN which is valued at $1,034,425. Olin Corporation makes up approx 0.05% of Profund Advisors’s portfolio.Citadel Advisors reduced its stake in OLN by selling 630,441 shares or 96.48% in the most recent quarter. The Hedge Fund company now holds 22,994 shares of OLN which is valued at $558,294.Mutual Of America Capital Management reduced its stake in OLN by selling 45,968 shares or 18.16% in the most recent quarter. The Hedge Fund company now holds 207,111 shares of OLN which is valued at $4,512,949. Olin Corporation makes up approx 0.09% of Mutual Of America Capital Management’s portfolio.

Olin Corporation opened for trading at $24.94 and hit $25.265 on the upside on Monday, eventually ending the session at $25.15, with a gain of 0.80% or 0.2 points. The heightened volatility saw the trading volume jump to 17,13,704 shares. Company has a market cap of $4,157 M.

On the company’s financial health, Olin Corporation reported $0.33 EPS for the quarter, based on the information available during the earnings call on Oct 31, 2016. Analyst had a consensus estimate of $0.33. The company had revenue of $1452.70 million for the quarter, compared to analysts expectations of $1449.52 million. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Olin Corporation. Olin Corporation was Downgraded by Longbow to ” Underperform” on Sep 7, 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 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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