Olin Corporation (OLN): Hedge Funds Are Snapping Up

As aggregate interest increased, some big names have been driving this bullishness. Baupost Group, managed by Seth Klarman, established the most valuable position in Olin Corporation (NYSE:OLN). The fund had $117.7 million invested in the company at the end of the quarter. Clint Carlson’s Carlson Capital also made a $19.8 million investment in the stock during the quarter. The following funds were also among the new OLN investors: Michael Platt and William Reeves’s BlueCrest Capital Mgmt., Lee Munder’s Lee Munder Capital Group, and Daniel S. Och’s OZ Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Olin Corporation (NYSE:OLN) but similarly valued. These stocks are Shutterfly, Inc. (NASDAQ:SFLY), Talen Energy Corp (NYSE:TLN), Premier Inc (NASDAQ:PINC), and Apollo Investment Corp. (NASDAQ:AINV). This group of stocks’ market values resemble OLN’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SFLY 27 413855 0
TLN 20 89283 1
PINC 17 194452 0
AINV 17 23528 1

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $180 million. That figure was $486 million in OLN’s case. Shutterfly, Inc. (NASDAQ:SFLY) is the most popular stock in this table, while Premier Inc (NASDAQ:PINC) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks Olin Corporation (NYSE:OLN) is more popular among hedge funds and has attracted a significantly higher amount of investments. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.