Orion (NYSE:OEC) Share Price Crosses Below 50-Day Moving Average - Here's What Happened

Orion S.A. (NYSE:OEC - Get Free Report) shares crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OEC. StockNews.com cut Orion from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised shares of Orion from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $20.00 to $21.00 in a report on Monday, November 11th.

Orion Stock Down 3.5 %

The stock has a fifty day moving average price of $16.86 and a 200 day moving average price of $18.14. The stock has a market capitalization of $847.91 million, a P/E ratio of 27.72 and a beta of 1.53. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.24 and a quick ratio of 0.71.

Orion (NYSE:OEC - Get Free Report) last issued its quarterly earnings data 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). 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. On average, research analysts forecast that Orion S.A. will post 1.68 earnings per share for the current year.

Hedge Funds Weigh In On Orion

A number of institutional investors have recently added to or reduced their stakes in OEC. Pzena Investment Management LLC grew its holdings in shares of 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 purchasing an additional 954,398 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Orion by 3.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,724,139 shares of the specialty chemicals company's stock worth $59,768,000 after buying an additional 99,613 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 in the last quarter. Harvey Partners LLC raised its position in shares of Orion by 9.5% during the 3rd quarter. Harvey Partners LLC now owns 1,696,000 shares of the specialty chemicals company's stock valued at $30,206,000 after buying an additional 146,500 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Orion by 18.6% during 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 last quarter. 94.33% of the stock is currently owned by institutional investors.

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.