5 Best Gun Stocks to Invest In

1. Olin Corporation (NYSE: OLN)

Number of Hedge Fund Holders: 34

Olin Corporation (NYSE: OLN) is a manufacturer and distributor of chemical products in the US, Europe, and internationally. The company’s Winchester segment offers ammunition products for hunters, recreational shooters, and law enforcement, and small caliber military ammunition products for infantry and mounted weapons, among other related products. It ranks 1st on our list of the best gun stocks to invest in.

On July 1st, Olin Corporation (NYSE: OLN) signed an agreement with ASHTA Chemicals to buy and sell ASHTA produced chlorine. Wells Fargo also mentioned Olin Corporation (NYSE: OLN) as one of its top contributors in May, with an Overweight rating and the label of Wells’ best ideas. This June, Olin Corporation (NYSE: OLN) was also upgraded to Buy at UBS with a $62 price target. In the first quarter of 2021, Olin Corporation (NYSE: OLN) had an EPS of $1.54, beating estimates by $0.20. The company’s revenue was $1.92 billion, up 34.64% year over year, and surpassing the previous quarter’s revenue of $1.65 billion. The stock has a forward PE ratio of 7.98 and has gained 61.19% in the past 6 months and 80.31% year to date. Olin Corporation (NYSE: OLN) has a gross profit margin of 13.24% as well.

By the end of the first quarter of 2021, 34 hedge funds out of the 866 tracked by Insider Monkey held stakes in Olin Corporation (NYSE: OLN), worth roughly $1.17 billion. This is compared to 23 hedge fund holders in the previous quarter with stakes worth about $742 million.

You can also take a look at 10 Best Stocks to Buy According to Billionaire Jeffrey Talpins and 15 Companies That Benefitted The Most From The Pandemic.

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