Pzena Investment Management LLC decreased its holdings in Orion S.A. (NYSE:OEC - Free Report) by 9.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,312,290 shares of the specialty chemicals company's stock after selling 335,695 shares during the period. Pzena Investment Management LLC owned approximately 5.74% of Orion worth $52,301,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of OEC. Isthmus Partners LLC increased its position in shares of Orion by 4.7% in the fourth quarter. Isthmus Partners LLC now owns 140,037 shares of the specialty chemicals company's stock worth $2,211,000 after acquiring an additional 6,230 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Orion during the 4th quarter worth $1,531,000. Charles Schwab Investment Management Inc. increased its holdings in Orion by 9.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 960,349 shares of the specialty chemicals company's stock valued at $15,164,000 after purchasing an additional 85,074 shares in the last quarter. New York State Common Retirement Fund raised its position in Orion by 414.7% in the fourth quarter. New York State Common Retirement Fund now owns 239,693 shares of the specialty chemicals company's stock valued at $3,785,000 after purchasing an additional 193,126 shares during the period. Finally, Secured Retirement Advisors LLC purchased a new position in Orion in the fourth quarter valued at about $1,212,000. 94.33% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently 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 research note on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective on shares of Orion from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, February 21st.
Check Out Our Latest Report on Orion
Orion Stock Down 2.6 %
NYSE:OEC traded down $0.35 on Thursday, reaching $12.71. The stock had a trading volume of 616,509 shares, compared to its average volume of 469,385. The company has a 50-day moving average of $14.31 and a 200 day moving average of $16.05. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. The stock has a market cap of $719.79 million, a P/E ratio of 16.94 and a beta of 1.52. Orion S.A. has a 12-month low of $12.51 and a 12-month high of $26.05.
Orion (NYSE:OEC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.10. Orion had a return on equity of 20.94% and a net margin of 2.35%. The firm had revenue of $434.20 million during the quarter, compared to the consensus estimate of $437.03 million. On average, research analysts predict that Orion S.A. will post 1.73 earnings per share for the current year.
Orion Cuts Dividend
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, March 13th. Orion's payout ratio is currently 10.67%.
Insider Buying and Selling
In related news, VP Carlos Quinones acquired 3,300 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $13.07 per share, with a total value of $43,131.00. Following the acquisition, the vice president now directly owns 79,702 shares in the company, valued at approximately $1,041,705.14. The trade was a 4.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company's stock.
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.
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