Is Olin Corporation (OLN) Attractively Valued?

Madison Investments, an investment advisor, released its “Madison Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Class Y) declined 6.1% compared to a 5.1% decline for the Russell 2000 Index. Year-to-date, the fund is up 4.3% compared to 2.5% for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Small Cap Fund highlighted stocks like Olin Corporation (NYSE:OLN) in the Q3 2023 investor letter. Headquartered in Clayton, Missouri, Olin Corporation (NYSE:OLN) is a chemical products manufacturer. On October 24, 2023, Olin Corporation (NYSE:OLN) stock closed at $45.57 per share. One-month return of Olin Corporation (NYSE:OLN) was -4.86%, and its shares lost 7.98% of their value over the last 52 weeks. Olin Corporation (NYSE:OLN) has a market capitalization of $5.734 billion.

Madison Small Cap Fund made the following comment about Olin Corporation (NYSE:OLN) in its Q3 2023 investor letter:

“We exited Chemours Co on the strength of its year-to-date performance and the growing export of chloride-based titanium dioxide from China. Weaker economic growth in China, combined with increased capacity, is a headwind for European and North American pricing. We used these funds to increase our position in Olin Corporation (NYSE:OLN), which pulled back on the retirement of the company’s CEO. We believe Olin’s strategy remains intact and the valuation of the company is attractive.”

A factory worker in heavy protective clothing, overseeing the production of chlorine. Editorial photo for a financial news article. 8k. –ar 16:9

Olin Corporation (NYSE:OLN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Olin Corporation (NYSE:OLN) at the end of second quarter which was 44 in the previous quarter.

We discussed Olin Corporation (NYSE:OLN) in another article and shared long-term returns of Scott Ferguson’s activist targets. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.