Balyasny Asset Management buys $163,380,378 stake in Olin Corporation (OLN)

Olin Corporation (OLN) : Balyasny Asset Management scooped up 1,983,783 additional shares in Olin Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 6,715,182 shares of Olin Corporation which is valued at $163,380,378.Olin Corporation makes up approximately 0.98% of Balyasny Asset Management’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services reduced its stake in OLN by selling 33 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 18,871 shares of OLN which is valued at $459,131. Olin Corporation makes up approx 0.02% of First Allied Advisory Services’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in OLN by selling 19,720 shares or 0.41% in the most recent quarter. The Hedge Fund company now holds 4,761,653 shares of OLN which is valued at $107,041,959. Olin Corporation makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio.New York State Common Retirement Fund reduced its stake in OLN by selling 82,983 shares or 18.84% in the most recent quarter. The Hedge Fund company now holds 357,447 shares of OLN which is valued at $8,035,409. Olin Corporation makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Retirement Systems Of Alabama reduced its stake in OLN by selling 199 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 212,837 shares of OLN which is valued at $4,533,428. Olin Corporation makes up approx 0.03% of Retirement Systems Of Alabama’s portfolio.Wcm Investment Managementca reduced its stake in OLN by selling 124,537 shares or 47.05% in the most recent quarter. The Hedge Fund company now holds 140,164 shares of OLN which is valued at $3,075,198. Olin Corporation makes up approx 0.04% of Wcm Investment Managementca’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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