Yesterday saw chemical and explosive business ORI slip 1.7%, with a little profit taking probably creeping into the stock. Earlier this month, ORI delivered a solid earnings report, which drove the stock to fresh four-year highs—EBIT came in at $353.7mn, up 10%, while underlying EPS of 38.8c which was up 2.8c on the prior corresponding period (pcp). Buying strong stocks/companies into overall market weakness is one of our preferred investment paths.
- We like ORI back around $17.50, now only 4% away.
MM is bullish towards ORI
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