Revenue Update on Olin Corporation(NYSE:OLN)

Olin Corporation(NYSE:OLN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $1.36B. Analysts estimated a revenue of $1.47B. Earnings per share were $0.24. Analysts had estimated an EPS of $0.31.

In a different note, On Jun 28, 2016, Cowen & Company said it Upgrades its rating on Olin Corporation. The shares have been rated ‘Outperform’ by the firm.

Olin Corporation (OLN) made into the market gainers list on Mondays trading session with the shares advancing 1.50% or 0.31 points. Due to strong positive momentum, the stock ended at $20.95, which is also near the day’s high of $20.98. The stock began the session at $20.67 and the volume stood at 22,36,995 shares. The 52-week high of the shares is $26.46 and the 52 week low is $12.29. The company has a current market capitalization of $3,460 M and it has 16,51,64,130 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2016, Randall W Larrimore (director) purchased 1,600 shares at $15.45 per share price.Also, On Feb 19, 2016, Joseph D Rupp (CEO) purchased 70,000 shares at $14.26 per share price.On Feb 18, 2016, Stephen C Curley (VP & Treasurer) purchased 5,000 shares at $13.38 per share price, according to the Form-4 filing with the securities and exchange commission.

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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