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

Shares of Orion S.A. (NYSE:OEC) gapped up before the market opened on Thursday following a better than expected earnings announcement. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The firm had revenue of $434.20 million for the quarter, compared to the consensus estimate of $437.03 million. Orion had a net margin of 2.35% and a return on equity of 20.94%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Orion from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group dropped their price target on shares of Orion from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday.

Institutional Trading of Orion

Several hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Orion by 30.5% in 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 acquiring an additional 27,804 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Orion in the 4th quarter valued at $382,000. ProShare Advisors LLC increased its stake in shares of Orion by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 16,214 shares of the specialty chemicals company’s stock valued at $256,000 after acquiring an additional 5,335 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Orion by 20.3% in 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 acquiring an additional 117,022 shares in the last quarter. Finally, Numerai GP LLC increased its stake in shares of Orion by 97.4% in the 4th quarter. Numerai GP LLC now owns 52,484 shares of the specialty chemicals company’s stock valued at $829,000 after acquiring an additional 25,895 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.

Orion Stock Down 0.3 %

The firm’s 50 day moving average price is $14.96 and its two-hundred day moving average price is $16.43. The company has a market cap 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.

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.