Fintel reports that on November 11, 2024, JP Morgan upgraded their outlook for Orion (NYSE:OEC) from Neutral to Overweight.
Analyst Price Forecast Suggests 59.48% Upside
As of October 22, 2024, the average one-year price target for Orion is $24.99/share. The forecasts range from a low of $19.19 to a high of $28.35. The average price target represents an increase of 59.48% from its latest reported closing price of $15.67 / share.
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The projected annual revenue for Orion is 2,329MM, an increase of 21.84%. The projected annual non-GAAP EPS is 2.75.
What is the Fund Sentiment?
There are 431 funds or institutions reporting positions in Orion. This is an decrease of 5 owner(s) or 1.15% in the last quarter. Average portfolio weight of all funds dedicated to OEC is 0.27%, an increase of 29.01%. Total shares owned by institutions increased in the last three months by 1.85% to 64,529K shares. 
The put/call ratio of OEC is 0.44, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 3,711K shares representing 6.43% ownership of the company. In its prior filing, the firm reported owning 2,921K shares , representing an increase of 21.28%. The firm increased its portfolio allocation in OEC by 22.24% over the last quarter.
Pzena Investment Management holds 3,648K shares representing 6.32% ownership of the company. In its prior filing, the firm reported owning 2,694K shares , representing an increase of 26.16%. The firm decreased its portfolio allocation in OEC by 0.49% over the last quarter.
William Blair Investment Management holds 2,860K shares representing 4.95% ownership of the company. In its prior filing, the firm reported owning 2,724K shares , representing an increase of 4.75%. The firm decreased its portfolio allocation in OEC by 19.85% over the last quarter.
Brown Advisory holds 2,313K shares representing 4.01% ownership of the company. In its prior filing, the firm reported owning 1,863K shares , representing an increase of 19.46%. The firm decreased its portfolio allocation in OEC by 56.32% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 1,732K shares representing 3.00% ownership of the company. In its prior filing, the firm reported owning 1,739K shares , representing a decrease of 0.37%. The firm decreased its portfolio allocation in OEC by 1.21% over the last quarter.
Orion Engineered Carbons Background Information
(This description is provided by the company.)
Orion Engineered Carbons is a global supplier of carbon black products including high-performance specialty gas blacks, acetylene blacks, furnace blacks, lamp blacks, thermal blacks, and other carbon blacks that tint, colorize and enhance the performance of polymers, plastics, paints and coatings, inks and toners, textile fibers, adhesives and sealants, batteries, tires, and mechanical rubber goods, such as automotive belts and hoses. The company has over 125 years of history providing customized solutions from a network of 14 global production sites and is dedicated to responsible business practices that emphasize reliability, innovation and sustainability.
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This story originally appeared on Fintel.
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