Steven Cohen (Trades, Portfolio), founder and manager of SAC Capital Advisors, a Stamford, Connecticut based hedge fund, bought and sold stakes in Olin Corp (NYSE:OLN), a Missouri-based manufacturer of ammunition, chlorine and sodium hydroxide that was founded in 1892, regularly between 2010 and 2013. Between the middle of 2012 and the end of 2013, he bought new stakes in OLN twice and sold out three times, each time making a profit.
He hadn’t traded in Olin stock since the end of 2013, but then in the first quarter of this year, he invested in a new stake in the company, acquiring 227,900 shares for an average price of $26.82 per share. That was nearly four times as many Olin shares as Cohen ever owned between 2010 and 2013, but then he made an astonishing addition at the end of June – buying 3,832,254 shares for an average price of $30.02 per share. Continue Reading »