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Is Orion S.A. (OEC) an Attractive Growth Investment?

Choice Equities Capital Management, a hedge fund manager, released its third-quarter 2023 investor letter recently. You can view it here. In the third quarter, the fund generated -14.6% on a net basis which brought the year-to-date net performance to -6.2%. This compares to Russell 2000’s -5.1% loss for the quarter and +2.5% gain year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Choice Equities highlighted stocks like Orion S.A. (NYSE:OEC) in the third quarter 2023 investor letter. Headquartered in Houston, Texas, Orion S.A. (NYSE:OEC) manufactures and sells carbon black products. On November 6, 2023, Orion S.A. (NYSE:OEC) stock closed at $20.01 per share. One-month return of Orion S.A. (NYSE:OEC) was -2.77%, and its shares gained 14.15% of their value over the last 52 weeks. Orion S.A. (NYSE:OEC) has a market capitalization of $1.161 billion.

Choice Equities made the following comment about Orion S.A. (NYSE:OEC) in its Q3 2023 investor letter:

"Other core holdings continue to trade at attractive valuations. Industrials such as Orion S.A. (NYSE:OEC) and Wesco, Inc. (WCC) trade at single digit earnings’ multiples and offer attractive multi-year growth prospects."

A close up of a carbon-based solution as it gets released from a nozzle into a mould.

Orion S.A. (NYSE:OEC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Orion S.A. (NYSE:OEC) at the end of second quarter which was 34 in the previous quarter.

We discussed Orion S.A. (NYSE:OEC) in another article and shared the list of best specialty chemical stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.

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