Steve Cohen’s Point72 Asset Management increased Position in Olin Corporation (NYSE:OLN)
Point72 Asset Management has filled a SC 13D/A form regarding Olin Corp
17.53 -0.03 -0.17%
. Filing Link: 000089914015000736. Per Steve Cohen’s Point72 Asset Management’s filing, the filler reported increased stake in the company by 10.59% to 5,494,510 shares. Steve Cohen’s Point72 Asset Management now owns 3.3% of the Materials-company. This form was required due to trading activity on October 5, 2015.
The hedge fund has been active in the Materials sector recently. In the fund’s latest 13F, it revealed several positions. This sector is 11% of Steve Cohen’s Point72 Asset Management’s US equities portfolio.
Why Steve Cohen’s Point72 Asset Management Holds Olin Corporation (NYSE:OLN)
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is hereby amended to include the following:
The Reporting Persons acquired the Common Stock in the transactions reported in this Amendment No. 4 for investment purposes, in the ordinary course of business, and not with the purpose nor with the effect of changing or influencing the control or management of the Issuer and without any agreement with any third party to act together for the purpose of acquiring, holding, voting or disposing of equity securities of the Issuer.
Olin Corp Hedge Funds Ownership
Latest SEC filings show 230 hedge funds and institutional investors own Olin Corp. The institutional ownership of the company in Q1 2015 is very high, at 85.14% of the shares outstanding. They decreased by 1935262 the total shares they hold. As of that quarter these institutional investors owned 65987329 shares. A total of 40 funds opened new positions in Olin Corp and 61 increased their holdings. There were 35 funds that closed their positions and 94 that reduced them.
Parametrica Management Ltd is the most positive institutional investor on Olin Corp, with ownership of 6760 shares as of Q1 2015 for 7.00% of the fund’s portfolio. Adams Asset Advisors Llc is another positive player owning 213037 shares of the company or 1.29% of their stocks portfolio. CA Financial Engines Advisors Llc have 1.93% of their stock portfolio invested in the stock for 100028. Further, Marianas Fund Management Llc disclosed it had purchased a stake worth 2.49% of the fund’s stock portfolio in the company. The X0 Quadrature Capital Llp was also a notable investor in the firm, owning 34800 shares. Olin Corp is 1.62% of the fund’s stock portfolio.
Company Profile
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.
Form 13D is SEC filing that must be submitted within 10 days, by anyone who acquires beneficial ownership of more than 5% of any publicly traded securities. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing. These filings may be a precursor to hostile takeovers, company breakups, and other “change of control” events.
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