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TV Shows That Went Through Showrunner Changes: 'Handmaid's Tale' and MoreBarclays PLC raised its stake in Orion S.A. ( NYSE:OEC – Free Report ) by 320.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,512 shares of the specialty chemicals company’s stock after purchasing an additional 72,793 shares during the quarter. Barclays PLC owned approximately 0.17% of Orion worth $1,700,000 at the end of the most recent reporting period. Other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC grew its stake in shares of Orion by 35.4% in the third quarter. Pzena Investment Management LLC now owns 3,647,985 shares of the specialty chemicals company’s stock valued at $64,971,000 after buying an additional 954,398 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Orion during the third quarter worth approximately $4,620,000. American Century Companies Inc. lifted its holdings in 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 purchasing an additional 210,990 shares during the last quarter. Victory Capital Management Inc. boosted 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 purchasing an additional 198,182 shares during the period. Finally, SIR Capital Management L.P. acquired a new position in Orion in the 2nd quarter valued at $3,992,000. Institutional investors and hedge funds own 94.33% of the company’s stock. Wall Street Analysts Forecast Growth OEC has been the topic of several recent analyst reports. StockNews.com lowered Orion from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised Orion from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $21.00 in a research note on Monday, November 11th. Orion Price Performance Shares of OEC opened at $15.67 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 1.42. The business’s fifty day moving average is $16.91 and its 200 day moving average is $18.59. The stock has a market cap of $904.47 million, a P/E ratio of 29.57 and a beta of 1.51. Orion S.A. has a 12-month low of $14.94 and a 12-month high of $28.35. Orion ( NYSE:OEC – Get Free Report ) last released its earnings results on Thursday, November 7th. The specialty chemicals company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.06). The business had revenue of $463.40 million during the quarter, compared to the consensus estimate of $489.01 million. Orion had a net margin of 1.67% and a return on equity of 18.97%. Sell-side analysts anticipate that Orion S.A. will post 1.68 earnings per share for the current fiscal year. Orion Company Profile ( Free Report ) 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. Featured Stories Five stocks we like better than Orion Utilities Stocks Explained – How and Why to Invest in Utilities S&P 500 ETFs: Expense Ratios That Can Boost Your Long-Term Gains Investing in the High PE Growth Stocks How AI Implementation Could Help MongoDB Roar Back in 2025 Trading Stocks: RSI and Why it’s Useful Hedge Funds Boost Oil Positions: Is a Major Rally on the Horizon? Receive News & Ratings for Orion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion and related companies with MarketBeat.com's FREE daily email newsletter .Cart.Com Partners With Greenwing Technology To Revolutionize E-Procurement For Institutional Buyers
Prominent brands struggle to adapt to an e-bike industry dominated by cheap, direct-to-consumer salesTrump's ‘border czar' says family detention centers could play a role in deportation effortOrigin co-founder, John Bissell at the Origin Materials 1 biomaterials pilot plant in Sarnia, ... [+] Ontario, Canada. Plastics are essential to modern life, but their convenience comes at a steep environmental cost. They are made by distilling mined hydrocarbons in a refinery—a process that releases carbon dioxide and other pollutants. Many plastics are used only once, after which they accumulate in landfills, make their way into rivers and oceans, and disturb marine food chains . Recent studies have found that microplastics also make their way into breast milk , suggesting they are an unfortunate component of human food chains as well. The negative environmental impacts of conventionally manufactured plastics are what makes biomaterials such a hot topic. Origin Materials’ (ORGN) has developed a truly revolutionary insight into this hot topic: its scientists have found a way to produce common plastics and other materials using a feedstock of biomaterials like wood chips, cardboard, and sawdust. In the process of bringing this revolutionary innovation to life, Origin’s scientists stumbled onto a second good idea, one which is less revolutionary but has the advantage of being immediately cash flow generative: a novel manufacturing process that increases the recyclability of single-use plastic containers. The potential climate impact of Origin’s biomaterials technology is astounding. Rearranging hydrogen and carbon atoms to produce common plastics like PET (a type of plastic used to produce everything from drink bottles to synthetic fabric) means that not as much oil must be extracted from underground. Origin’s manufacturing advance enhances plastic recycling, reducing the amount of oil refined into plastic. Other biomaterials companies try to process organic waste to mimic the capabilities of the materials we use in everyday life, an approach that typically results in inferior materials that fall apart too easily, cannot withstand extreme temperatures, etc. In contrast, Origin can create the very same plastics and materials we use every day without further unbalancing the planet’s carbon cycle. FBI Warns iPhone And Android Users—Stop Sending Texts Microsoft’s New Update—Bad News Confirmed For 400 Million Windows Users Smartphone Security Warning—Make These Changes Now Or Become A Victim Operationalizing such a revolutionary innovation isn’t easy, and Origin shareholders have had a rough ride. The company announced several years of delays in constructing its first large-scale commercial plant, leading to a gut-wrenching fall in share price over just a few harrowing trading sessions. Origin's stock price took a greater than 60% hit after management announced significant delays to ... [+] the construction of its large-scale commercial biomaterials plant, OM2, in the third quarter of 2023. Origin’s management, to its credit, scrambled to pivot to a partnership model that would allow it to fund a large-scale commercial plant with less of its own capital and harnessed its plastics chemistry expertise to launch a cash-generative recycling-related business to preserve cash on its balance sheet and avoid the threat of delisting. Origin’s biomaterials technology transforms wood scraps into real plastic Founded in 2008 by John Bissell and Ryan Smith, Origin Materials has pioneered a technology based on CMF (chloromethyl furfural), a new chemical platform created from a feedstock of lignocellulosic biomass (anything made from crushed, cut, or chipped wood). Origin’s new chemical platform enables the production of plastics like PET and other industrial chemicals identical to those derived from hydrocarbons without the environmental impacts of oil extraction and refining. The company believes that, depending on the energy mix of the grid from which a large-scale commercial Origin facility draws power, the company can produce plastics that have very low or even negative carbon footprints without resorting to CCS (please see my series on CCS to learn more about this controversial technology). The market size for the suite of products Origin can produce is astounding—trillions of dollars per year. Origin Materials' biomaterials platform uses CMF as its "trunk", from which various products, ... [+] including PET plastics, nylons, epoxies, and many other basic chemicals can be manufactured. While the company scrambled to find capital partners to help fund the construction of a commercial-scale biomaterials plant, Origin’s management realized that its research into the chemistry of PET enabled it to do something no other firm had been able to do at commercial scale: produce bottle caps made out of PET. Thus, Origin’s secondary product line was born: the “caps and closures” business, which sells caps to large drink companies and licenses its unique technology to other caps and closures manufacturers. The ability to produce PET caps confers a big advantage in plastics recycling, and this niche market is worth $65 billion annually. While the caps and closures business has neither the impact nor the market size of its biomaterials platform, the promise of decent near-term cash flow from this niche did provide the impetus for Origin’s stock price to rise above $1 per share, saving management from having to use a “reverse split” to prevent the stock from being delisted. Origin’s caps and closures technology, though not as sexy as its biomaterials tech, makes plastic recycling easier and is cash generative When different types of plastics are melted together in the recycling process, impurities in the resultant compound plastic reduce its usability. Recycling plastics of a uniform type is much more effective and has less impact on the climate. Plastic bottles are made primarily from PET, while caps are made from other plastics—polypropylene and HDPE—which can be recycled on their own but can’t be recycled together with PET. Consumer product goods companies like PepsiCo faced a quandary earlier this year when the EU mandated that caps must be tethered to bottles. They had to follow this regulatory mandate while demonstrating they are doing all they can to increase recyclability, even as HDPE/PP caps cannot be recycled with PET bottles. Origin’s PET manufacturing technology helps CPG companies by enabling caps and bottles to be made from the same material, improving both recycling efficiency and recycled product quality. As more plastic can be recycled, less oil must be dug up and refined into plastic. Origin has made substantial strides in the caps and closures business this year, completing manufacturing trials, forming partnerships with equipment manufacturers, and announcing their ability to produce tethered caps a month before the EU deadline. In August, the company signed a memorandum of understanding with an unnamed client for PET caps estimated by Origin’s management to be worth $100 million over the next two years. Revenue from this contract will begin in 2025, the company announced, with higher projected sales in 2026. At its 3Q24 earnings announcement, the company provided a bit more color to the $100 million contract and reaffirmed its full-2024 guidance to generate revenues between $25 million and $35 million and hold full-year net cash burn between $55 million and $65 million. I will be posting a separate report on Origin’s third-quarter earnings in the Climate Tech Venture Review, so I won’t rehash the announcement here. While I am most excited about the future of Origin’s biomaterials platform, I am impressed at its nimble and creative strategic adaptation in the face of a major setback. By pivoting to a cash-generative model with caps and closures and establishing strategic partnerships to reduce capital expenditures in its biomaterials business, Origin has taken the necessary steps to realize its vision of plastics made from wood waste. Despite its investment uncertainties, Origin’s biomaterials technology is so compelling and its leadership has displayed such grit that it cannot be ignored. Intelligent investors take note.
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