Alpha Windward LLC Invests $444,000 in Olin Corporation (OLN)

Alpha Windward LLC purchased a new position in Olin Corporation (NYSE:OLN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,664 shares of the specialty chemicals company’s stock, valued at approximately $444,000.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Olin Corporation by 7,604.7% in the first quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock worth $653,967,000 after buying an additional 19,637,387 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Olin Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 14,410,405 shares of the specialty chemicals company’s stock worth $473,671,000 after buying an additional 878,440 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Olin Corporation by 51.8% in the first quarter. Bank of New York Mellon Corp now owns 3,176,770 shares of the specialty chemicals company’s stock worth $104,421,000 after buying an additional 1,083,395 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Olin Corporation by 5.0% in the first quarter. Macquarie Group Ltd. now owns 3,051,997 shares of the specialty chemicals company’s stock worth $100,319,000 after buying an additional 145,929 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Olin Corporation by 4.0% in the first quarter. Ameriprise Financial Inc. now owns 2,146,387 shares of the specialty chemicals company’s stock worth $70,552,000 after buying an additional 83,276 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Shares of Olin Corporation (NYSE OLN) traded down 0.19% on Friday, reaching $30.81. The company’s stock had a trading volume of 28,603 shares. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 107.35 and a beta of 1.44. The stock has a 50-day moving average of $29.90 and a 200 day moving average of $30.32.

Olin Corporation (NYSE:OLN) last issued its quarterly earnings data on Tuesday, May 2nd. The specialty chemicals company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.10. Olin Corporation had a return on equity of 7.40% and a net margin of 0.82%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.44 billion. On average, equities research analysts forecast that Olin Corporation will post $1.19 earnings per share for the current year.

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OLN has been the topic of several analyst reports. Zacks Investment Research raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. Bank of America Corporation began coverage on shares of Olin Corporation in a research report on Monday, May 8th. They issued a “buy” rating and a $40.00 price target on the stock. Tudor Pickering began coverage on Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating and set a $35.00 target price on shares of Olin Corporation in a research note on Tuesday, May 16th. Finally, BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $32.75.

About Olin Corporation

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Institutional Ownership by Quarter for Olin Corporation (NYSE:OLN)

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