Orion S.A. $OEC Stake Increased by Harvey Partners LLC

Harvey Partners LLC raised its stake in shares of Orion S.A. (NYSE:OEC) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,424,995 shares of the specialty chemicals company’s stock after acquiring an additional 325,995 shares during the quarter. Orion makes up 2.5% of Harvey Partners LLC’s portfolio, making the stock its 19th biggest position. Harvey Partners LLC’s holdings in Orion were worth $25,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Orion by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,029,867 shares of the specialty chemicals company’s stock valued at $13,316,000 after buying an additional 69,518 shares in the last quarter. Invesco Ltd. increased its stake in shares of Orion by 1.3% during the first quarter. Invesco Ltd. now owns 1,714,253 shares of the specialty chemicals company’s stock valued at $22,165,000 after acquiring an additional 21,954 shares during the period. Entropy Technologies LP bought a new stake in Orion during the first quarter worth approximately $318,000. Virtu Financial LLC acquired a new stake in Orion in the first quarter worth approximately $177,000. Finally, Nuveen LLC acquired a new stake in Orion in the first quarter worth approximately $2,723,000. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Stock Performance

Shares of Orion stock opened at $5.25 on Friday. Orion S.A. has a 12 month low of $4.34 and a 12 month high of $17.69. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The stock has a market cap of $294.90 million, a PE ratio of -9.06 and a beta of 1.10. The business has a fifty day simple moving average of $5.36 and a 200-day simple moving average of $8.54.

Orion (NYSE:OEC) last announced its quarterly earnings data on Tuesday, November 4th. The specialty chemicals company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). Orion had a positive return on equity of 14.90% and a negative net margin of 1.74%.The business had revenue of $450.90 million during the quarter, compared to analysts’ expectations of $453.45 million. During the same period in the prior year, the company posted $0.47 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Orion S.A. will post 1.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OEC has been the topic of a number of research reports. UBS Group downgraded Orion from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $12.00 to $7.00 in a research note on Friday, October 17th. Mizuho set a $6.00 price target on shares of Orion in a research report on Monday, October 20th. Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a report on Friday, November 28th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $6.00.

About Orion

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.