Market Insight: Olin Corporation
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May 8, 2008
Olin Corporation (OLN) is a manufacturer concentrated in two business segments, including Chlor Alkali Products and Winchester. The Chlor Alkali Products manufactures and sells chlorine and caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, sodium chlorate, bleach products and potassium hydroxide. Winchester products include sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.
The company has a long history of supplying quality products and services to their customers, while generating value for their shareholders. The company meets their customers'' evolving needs through innovation and commitment to exceeding expectations and maintaining the highest ethical standards. Olin''s 3,600 employees across the country are also fully committed to being good neighbors and environmental stewards in the communities in which their facilities are located.
Olin recently announced that their Board of Directors declared a quarterly dividend of 20 cents on each share of Olin common stock. The dividend is payable on June 10, 2008 to shareholders of record at the close of business on May 9, 2008. This marks the company''s 326th consecutive quarterly dividend.
Olin has really good fundamentals with strong sales growth, earnings growth and terrific return on equity. The latest earnings showed 50 cents per share representing a huge increase when compared to a 1 cent per share loss in the same quarter the previous year.
Technically the stock has a good profile, projecting a possible move up to the $27 per share area by the July timeframe. Olin has a very tradable options market with tight bid to ask spreads. They also provide LEAPS that currently extend out to January of 2010 allowing the trader to play this opportunity over the long term as well.
Figure 1: Elliott Wave-4 Buy Pattern for Olin Corporation
(Source: Profit Source)
Happy Trading.
Jeff Neal
Senior Writer, Options Strategist & Profit Strategies Radio Show Market Correspondent
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