Rwc Asset Management Llp adds Olin Corporation (OLN) to its portfolio

Olin Corporation (OLN) : Rwc Asset Management Llp added new position in Olin Corporation during the most recent quarter end. The investment management firm now holds 1,041,594 shares of Olin Corporation which is valued at $20,883,960 , the company said in a statement filed on Aug 12, 2016 with the SEC.Olin Corporation makes up approximately 0.64% of Rwc Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans reduced its stake in OLN by selling 178,820 shares or 80.41% in the most recent quarter. The Hedge Fund company now holds 43,560 shares of OLN which is valued at $873,378. Atlantic Trust Group added OLN to its portfolio by purchasing 16,630 company shares during the most recent quarter which is valued at $333,432.Texas Permanent School Fund reduced its stake in OLN by selling 5,719 shares or 4.33% in the most recent quarter. The Hedge Fund company now holds 126,278 shares of OLN which is valued at $2,531,874. Olin Corporation makes up approx 0.03% of Texas Permanent School Fund’s portfolio.Hanson Doremus Investment Management reduced its stake in OLN by selling 644 shares or 19.1% in the most recent quarter. The Hedge Fund company now holds 2,728 shares of OLN which is valued at $57,015. Olin Corporation makes up approx 0.02% of Hanson Doremus Investment Management’s portfolio.

Olin Corporation opened for trading at $21.5 and hit $21.93 on the upside on Monday, eventually ending the session at $21.83, with a gain of 1.72% or 0.37 points. The heightened volatility saw the trading volume jump to 35,91,166 shares. Company has a market cap of $3,606 M.

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. 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 .Company shares were Upgraded by Cowen on Jun 28, 2016 to ” Outperform”, Firm has raised the Price Target to $ 31 from a previous price target of $18 .

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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