5 Best Gun Stocks to Buy Now

1. Olin Corporation (NYSE: OLN)

Number of Hedge Fund Holders: 37

Topping the list of 10 best gun stocks to buy now is Olin Corporation (NYSE: OLN), a Missouri-based chemical product and small ammunition manufacturer. The company was founded in 1892 and entered the ammunition market in 1931 when it purchased Winchester, one of the leading ammunition manufacturers in the United States.

Olin Corporation (NYSE: OLN) currently pays an annualized dividend of $0.80 per share and offers a dividend yield of 1.85%.

On July 16, Bank of America analyst Steve Byrne raised Olin Corporation (NYSE: OLN) from Neutral to Buy, with a price target of $58 per share, up from $49. The stock has gained 3% in the previous month.

The company has a market of $7.16 billion. On July 27, shares of Olin Corporation (NYSE: OLN) jumped 2% following strong Q2 earnings. In the second quarter of 2021, Olin Corporation (NYSE: OLN) reported an EPS of $2.26, beating estimates by $0.79. The company’s second-quarter revenue came in at $2.22 billion and beat revenue estimates by $105.10 million. Due to more robust commercial and military sales and higher commercial ammunition prices, the company’s ammunition sector increased revenue to $404 million, up from $192.6 million in the same period in 2020. Shares of Olin Corporation (NYSE: OLN) climbed 82%, year to date.

At the end of the second quarter of 2021, 37 hedge funds in the database of Insider Monkey held stakes worth $1.32 billion in Olin Corporation (NYSE: OLN), up from 34 in the previous quarter worth $1.17 billion.

You can also take a peek at the 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.

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