Carnegie Lake Advisors LLC Acquires 29,100 Shares of Orion S.A. (NYSE:OEC)

Carnegie Lake Advisors LLC boosted its stake in shares of Orion S.A. (NYSE:OEC - Free Report) by 72.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,461 shares of the specialty chemicals company's stock after purchasing an additional 29,100 shares during the period. Carnegie Lake Advisors LLC owned approximately 0.12% of Orion worth $1,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Orion in the third quarter valued at $27,000. nVerses Capital LLC purchased a new stake in shares of Orion during the third quarter worth about $69,000. Point72 DIFC Ltd lifted its stake in shares of Orion by 1,578.7% in the third quarter. Point72 DIFC Ltd now owns 4,415 shares of the specialty chemicals company's stock worth $79,000 after acquiring an additional 4,152 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Orion by 1,112.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,624 shares of the specialty chemicals company's stock valued at $154,000 after purchasing an additional 7,913 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Orion in the 3rd quarter worth about $190,000. Institutional investors and hedge funds own 94.33% of the company's stock.

Wall Street Analysts Forecast Growth

OEC has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Orion from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $20.00 to $21.00 in a report on Monday, November 11th. StockNews.com downgraded shares of Orion from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th.

Orion Stock Up 0.3 %

Shares of Orion stock traded up $0.04 during midday trading on Tuesday, reaching $14.02. 388,837 shares of the company's stock traded hands, compared to its average volume of 421,801. The company has a market cap of $809.23 million, a price-to-earnings ratio of 26.45 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 company's 50 day simple moving average is $15.53 and its 200 day simple moving average is $16.81. Orion S.A. has a 52 week low of $13.32 and a 52 week high of $26.05.

Orion 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.