Geode Capital Management LLC Grows Position in Orion S.A. (NYSE:OEC)

Geode Capital Management LLC raised its stake in Orion S.A. (NYSE:OEC) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,301,158 shares of the specialty chemicals company’s stock after acquiring an additional 5,378 shares during the quarter. Geode Capital Management LLC owned approximately 2.25% of Orion worth $23,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pzena Investment Management LLC increased its stake in Orion by 35.4% during the third quarter. Pzena Investment Management LLC now owns 3,647,985 shares of the specialty chemicals company’s stock worth $64,971,000 after acquiring an additional 954,398 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Orion by 3.8% in the second quarter. William Blair Investment Management LLC now owns 2,724,139 shares of the specialty chemicals company’s stock valued at $59,768,000 after buying an additional 99,613 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Orion by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,706 shares of the specialty chemicals company’s stock valued at $41,197,000 after buying an additional 80,266 shares during the period. Harvey Partners LLC lifted its position in Orion by 9.5% during the 3rd quarter. Harvey Partners LLC now owns 1,696,000 shares of the specialty chemicals company’s stock worth $30,206,000 after acquiring an additional 146,500 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Orion by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 1,347,138 shares of the specialty chemicals company’s stock worth $29,556,000 after acquiring an additional 210,990 shares during the period. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Orion Stock Performance

NYSE:OEC opened at $15.67 on Friday. The company has a 50-day moving average of $16.91 and a 200-day moving average of $18.59. The firm has a market cap of $904.47 million, a price-to-earnings ratio of 29.57 and a beta of 1.51. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. Orion S.A. has a twelve month low of $14.94 and a twelve month high of $28.35.

Orion (NYSE:OEC) last posted its quarterly earnings data on Thursday, November 7th. The specialty chemicals company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). Orion had a net margin of 1.67% and a return on equity of 18.97%. The firm had revenue of $463.40 million for the quarter, compared to analysts’ expectations of $489.01 million. Analysts forecast that Orion S.A. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Orion from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $21.00 in a research report on Monday, November 11th. StockNews.com lowered Orion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

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.