Iridian Asset Management is Buying Olin Corp. (NYSE:OLN) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Olin Corp. (NYSE:OLN) reported that Iridian Asset Management has picked up 9,415,654 of common stock as of 2017-02-02.

The acquisition brings the aggregate amount owned by Iridian Asset Management to a total of 9,415,654 representing a 5.7% stake in the company.

For those not familiar with the company, 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, hydrogen, bleach products and potassium hydroxide. The Epoxy segment produces and sells a range of epoxy materials, including allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products, such as converted epoxy resins and additives. The Epoxy segment serves an array of applications, including wind energy, electrical laminates and consumer goods.

A glance at Olin Corp. (NYSE:OLN)’s key stats reveals a current market capitalization of 5.52 billion based on 165.40 million shares outstanding and a price at last close of $29.81 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-11-08, Dawson picked up 20,000 at a purchase price of $22.54. This brings their total holding to 40,000 as of the date of the filing.

On the sell side, the most recent transaction saw Mcintosh unload 10,000 shares at a sale price of $21.59. This brings their total holding to 60,391.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Olin Corp. (NYSE:OLN) as things move forward to see if its progress aligns with these transactions.

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