Diamond Hill Capital Management Inc. Purchases 187,977 Shares of Orion S.A. (NYSE:OEC)

Diamond Hill Capital Management Inc. boosted its position in Orion S.A. (NYSE:OEC - Free Report) by 583.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,184 shares of the specialty chemicals company's stock after buying an additional 187,977 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.38% of Orion worth $3,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC lifted its holdings in Orion by 148.2% in the third quarter. Jane Street Group LLC now owns 151,205 shares of the specialty chemicals company's stock valued at $2,693,000 after buying an additional 90,292 shares during the period. Foundry Partners LLC acquired a new position in Orion in the third quarter valued at $4,620,000. Victory Capital Management Inc. lifted its holdings in Orion by 20.2% in the third quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company's stock valued at $21,001,000 after buying an additional 198,182 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Orion by 16.3% in the third quarter. Mutual of America Capital Management LLC now owns 377,198 shares of the specialty chemicals company's stock valued at $6,718,000 after buying an additional 52,807 shares during the period. Finally, Barclays PLC lifted its holdings in Orion by 320.4% in the third quarter. Barclays PLC now owns 95,512 shares of the specialty chemicals company's stock valued at $1,700,000 after buying an additional 72,793 shares during the period. Institutional investors and hedge funds own 94.33% of the company's stock.

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Insider Transactions at Orion

In other news, VP Carlos Quinones acquired 3,300 shares of Orion stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $13.07 per share, with a total value of $43,131.00. Following the transaction, the vice president now owns 79,702 shares of the company's stock, valued at approximately $1,041,705.14. This trade represents a 4.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Orion Stock Up 0.9 %

OEC traded up $0.13 during midday trading on Wednesday, hitting $13.89. The company had a trading volume of 614,704 shares, compared to its average volume of 473,460. Orion S.A. has a 52 week low of $12.51 and a 52 week high of $26.05. 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 company has a market capitalization of $786.70 million, a price-to-earnings ratio of 18.51 and a beta of 1.52. The stock's 50 day moving average price is $14.20 and its 200 day moving average price is $15.91.

Orion (NYSE:OEC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The firm had revenue of $434.20 million during the quarter, compared to the consensus estimate of $437.03 million. Orion had a net margin of 2.35% and a return on equity of 20.94%. On average, research analysts anticipate that Orion S.A. will post 1.73 earnings per share for the current fiscal year.

Orion Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, March 13th. Orion's payout ratio is presently 10.67%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OEC. UBS Group dropped their target price on shares of Orion from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price target on shares of Orion from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, February 21st.

About Orion

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.