Orion (NYSE:OEC) Shares Gap Up Following Earnings Beat

Shares of Orion S.A. (NYSE:OEC) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $14.66, but opened at $16.10. Orion shares last traded at $15.48, with a volume of 57,739 shares changing hands.

The specialty chemicals company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Orion had a net margin of 2.35% and a return on equity of 20.94%. The business had revenue of $434.20 million for the quarter, compared to analyst estimates of $437.03 million.

Analysts Set New Price Targets

Several equities analysts have commented on OEC shares. JPMorgan Chase & Co. decreased their target price on shares of Orion from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group decreased their target price on shares of Orion from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday.

Institutional Investors Weigh In On Orion

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Orion by 30.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 118,937 shares of the specialty chemicals company’s stock valued at $1,878,000 after purchasing an additional 27,804 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Orion during the 4th quarter valued at approximately $382,000. ProShare Advisors LLC grew its holdings in shares of Orion by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,214 shares of the specialty chemicals company’s stock valued at $256,000 after purchasing an additional 5,335 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Orion by 20.3% during the 4th quarter. Nuveen Asset Management LLC now owns 694,579 shares of the specialty chemicals company’s stock valued at $10,967,000 after purchasing an additional 117,022 shares during the last quarter. Finally, Numerai GP LLC grew its holdings in shares of Orion by 97.4% during the 4th quarter. Numerai GP LLC now owns 52,484 shares of the specialty chemicals company’s stock valued at $829,000 after purchasing an additional 25,895 shares during the last quarter. 94.33% of the stock is owned by institutional investors.

Orion Stock Down 0.3 %

The company has a market capitalization of $872.03 million, a P/E ratio of 20.14 and a beta of 1.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.71 and a current ratio of 1.24. The firm’s fifty day moving average is $14.96 and its 200-day moving average is $16.43.

Orion Company Profile

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.