CORRECTED-Sachem Head builds stake in Olin Corp, plans proxy contest -filing

(Corrects title of William Barnes Hauptfuhrer in paragraph 3; he is the father of Sachem Head analyst Barnes Hauptfuhrer)

NEW YORK, Feb 24 (Reuters) - Activist investment firm Sachem Head Capital Management has built a new stake in Olin Corporation and plans to nominate four directors, including the fund’s founder, at this year’s annual meeting.

Sachem Head said in a regulatory filing on Monday that it now owns 9.4% of Olin, which makes ammunition, chlorine and vinyls. The filing also said that it will try to seat four directors on the Clayton, Missouri-headquartered company’s 12-director board.

Sachem Head nominated Scott Ferguson, the firm’s founder and portfolio manager, William Barnes Hauptfuhrer, an executive with banking experience, former banker Wendy Lane and investor Alexander Nomitch. Hauptfuhrer’s son, Barnes, is an analyst at Sachem Head.

Last year Sachem Head nominated Ferguson and Lane as directors at Eagle Materials but withdrew the nomination in time for the annual meeting as the company made progress on items the hedge fund was seeking.

Sachem Head, founded in 2013, invests $3.2 billion on behalf of clients, according to a recent regulatory filing, and is one of a handful of activist investors that have successfully pushed companies to break apart or sell themselves.

Over the last year, Olin’s share price has dropped 27.9% compared with a 15.4% gain for the Standard & Poor’s 500 index. (Reporting by Svea Herbst-Bayliss; Editing by David Gregorio and Dan Grebler)