Short Interest in Orion S.A. (NYSE:OEC) Decreases By 20.2%

Orion S.A. (NYSE:OEC - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 690,100 shares, a decline of 20.2% from the February 28th total of 865,200 shares. Currently, 1.3% of the company's stock are sold short. Based on an average daily volume of 533,000 shares, the days-to-cover ratio is presently 1.3 days.

Orion Stock Performance

OEC stock traded down $0.70 during midday trading on Friday, hitting $11.27. 389,073 shares of the company traded hands, compared to its average volume of 494,648. Orion has a twelve month low of $10.88 and a twelve month high of $26.05. The stock has a market capitalization of $638.32 million, a price-to-earnings ratio of 14.95 and a beta of 1.25. 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 business has a 50 day simple moving average of $13.80 and a 200-day simple moving average of $15.61.

Orion (NYSE:OEC - Get Free Report) last posted its earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.10. The business had revenue of $434.20 million for the quarter, compared to analyst estimates of $437.03 million. Orion had a net margin of 2.35% and a return on equity of 20.94%. As a group, equities research analysts predict that Orion will post 1.73 earnings per share for the current year.

Orion Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 13th will be paid a $0.0207 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.73%. Orion's payout ratio is presently 10.67%.

Insider Buying and Selling at Orion

In other news, VP Carlos Quinones purchased 3,300 shares of Orion stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $13.07 per share, for a total transaction of $43,131.00. Following the acquisition, the vice president now directly owns 79,702 shares in the company, valued at $1,041,705.14. This represents a 4.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Orion

Several large investors have recently made changes to their positions in OEC. Public Employees Retirement System of Ohio bought a new position in Orion in the 3rd quarter worth approximately $27,000. Point72 DIFC Ltd increased its position in Orion by 1,578.7% during the third quarter. Point72 DIFC Ltd now owns 4,415 shares of the specialty chemicals company's stock worth $79,000 after acquiring an additional 4,152 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Orion by 1,112.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,624 shares of the specialty chemicals company's stock worth $154,000 after acquiring an additional 7,913 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Orion in the 4th quarter valued at $159,000. Finally, Paloma Partners Management Co bought a new stake in Orion in the 3rd quarter valued at $190,000. Institutional investors and hedge funds own 94.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OEC shares. UBS Group reduced their target price on shares of 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. reduced their price objective 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.