Y Intercept Hong Kong Ltd Sells 28,109 Shares of Orion S.A. (NYSE:OEC)

Y Intercept Hong Kong Ltd lessened its holdings in shares of Orion S.A. (NYSE:OEC - Free Report) by 70.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,532 shares of the specialty chemicals company's stock after selling 28,109 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Orion were worth $182,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OEC. Pzena Investment Management LLC raised its stake in Orion by 35.4% during the 3rd quarter. Pzena Investment Management LLC now owns 3,647,985 shares of the specialty chemicals company's stock worth $64,971,000 after buying an additional 954,398 shares during the period. Foundry Partners LLC bought a new position in Orion during the 3rd quarter worth about $4,620,000. Victory Capital Management Inc. increased its holdings in Orion by 20.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company's stock worth $21,001,000 after purchasing an additional 198,182 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Orion by 414.7% during the 4th quarter. New York State Common Retirement Fund now owns 239,693 shares of the specialty chemicals company's stock worth $3,785,000 after purchasing an additional 193,126 shares in the last quarter. Finally, Harvey Partners LLC increased its holdings in Orion by 9.5% during the 3rd quarter. Harvey Partners LLC now owns 1,696,000 shares of the specialty chemicals company's stock worth $30,206,000 after purchasing an additional 146,500 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company's stock.

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Orion Stock Down 1.0 %

Shares of NYSE OEC traded down $0.13 during mid-day trading on Friday, hitting $13.81. The company had a trading volume of 365,010 shares, compared to its average volume of 511,987. The company has a market capitalization of $782.22 million, a PE ratio of 18.41 and a beta of 1.52. The firm has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $16.17. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. Orion S.A. has a one year low of $12.56 and a one year high of $26.05.

Orion (NYSE:OEC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $434.20 million during the quarter, compared to analysts' expectations of $437.03 million. Orion had a return on equity of 20.94% and a net margin of 2.35%. On average, equities analysts expect that Orion S.A. will post 1.73 EPS for the current year.

Orion Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group lowered their target price on Orion from $23.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on Orion from $21.00 to $18.00 and set an "overweight" rating for the company in a report 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.