Orion (NYSE:OEC) Shares Cross Below 50 Day Moving Average – Here’s Why

Shares of Orion S.A. (NYSE:OEC) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.86 and traded as low as $15.04. Orion shares last traded at $15.24, with a volume of 464,298 shares trading hands.

Analyst Ratings Changes

OEC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Orion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded shares of Orion from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $20.00 to $21.00 in a report on Monday, November 11th.

Orion Trading Down 0.3 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.24 and a quick ratio of 0.71. The company has a market capitalization of $879.65 million, a price-to-earnings ratio of 28.76 and a beta of 1.53. The business has a fifty day moving average price of $16.86 and a 200 day moving average price of $18.14.

Orion (NYSE:OEC) last released its earnings results on Thursday, November 7th. The specialty chemicals company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.06). The company had revenue of $463.40 million for the quarter, compared to analyst estimates of $489.01 million. Orion had a net margin of 1.67% and a return on equity of 18.97%. On average, equities analysts expect that Orion S.A. will post 1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Orion by 148.2% during the third quarter. Jane Street Group LLC now owns 151,205 shares of the specialty chemicals company’s stock valued at $2,693,000 after purchasing an additional 90,292 shares during the period. Foundry Partners LLC acquired a new stake in Orion during the third quarter worth $4,620,000. Victory Capital Management Inc. increased its holdings in Orion by 20.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company’s stock valued at $21,001,000 after buying an additional 198,182 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Orion by 16.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 377,198 shares of the specialty chemicals company’s stock valued at $6,718,000 after buying an additional 52,807 shares in the last quarter. Finally, Divisar Capital Management LLC lifted its holdings in shares of Orion by 7.3% during the 2nd quarter. Divisar Capital Management LLC now owns 805,082 shares of the specialty chemicals company’s stock worth $17,663,000 after acquiring an additional 55,000 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.

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.