Andrew Henckler, CFA
Deep value, special situations, debt, long/short equity

Underperforming Olin Corporation Needs To Be Acquired

Olin Corp. (NYSE:OLN) reported fourth quarter 2013 earnings on Monday meeting analysts' estimates and tallying up record annual EBITDA of $424 million. While this is a notable achievement, management indicated first quarter EPS well below the consensus forecast and EBITDA for 2014 at best equal to 2013's performance. Meanwhile the company continues to laud itself for its increasing cash balance (up $143 million during 2013 to $308 million at the end of the year), continuing its 20 cent per share quarterly dividend (which has not been raised since 1999), and repurchasing 1.5 million shares during the course of 2013 (1.9% of shares outstanding for perhaps $40 million or 10% of EBITDA). Based on Monday's closing price, the company...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details