Orion S.A. (NYSE:OEC) Declares $0.02 Quarterly Dividend

Key Points

• Orion declared a quarterly dividend of $0.0207 per share, payable January 19 to shareholders of record December 11. The dividend implies an annualized yield of approximately 1.4%.
• The dividend appears well covered, with a current payout ratio of 4.4%; analysts expect next year’s earnings to support a projected payout ratio of 22.9%, despite modest dividend reductions over the past three years.
• Orion’s latest quarterly earnings missed estimates, with EPS of $0.14 versus the expected $0.16, although revenue of $500.9 million exceeded forecasts. The stock opened at $5.84, well below its 52-week high of $8.86.

Orion S.A. (NYSE:OEC - Get Free Report) declared a quarterly dividend on Thursday, September 17th. Shareholders of record on Friday, December 11th will be given a dividend of 0.0207 per share by the specialty chemicals company on Tuesday, January 19th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, December 11th.

Orion has decreased its dividend payment by an average of 0.2%annually over the last three years. Orion has a dividend payout ratio of 4.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Orion to earn $0.35 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 22.9%.

Orion Stock Performance

NYSE:OEC opened at $5.84 on Friday. The company has a market cap of $330.08 million, a price-to-earnings ratio of -3.38 and a beta of 0.99. The company has a quick ratio of 0.64, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. Orion has a 52 week low of $4.34 and a 52 week high of $8.86. The company has a fifty day simple moving average of $6.39 and a two-hundred day simple moving average of $6.52.

Orion (NYSE:OEC - Get Free Report) last released its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. The company had revenue of $500.90 million during the quarter, compared to analysts' expectations of $474.43 million. As a group, equities analysts anticipate that Orion will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion

Several hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its stake in shares of Orion by 16.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,340 shares of the specialty chemicals company's stock worth $65,000 after acquiring an additional 1,742 shares in the last quarter. Allworth Financial LP increased its stake in Orion by 70.6% in the 2nd quarter. Allworth Financial LP now owns 4,235 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 1,753 shares in the last quarter. Versant Capital Management Inc increased its stake in Orion by 26.4% in the 2nd quarter. Versant Capital Management Inc now owns 9,925 shares of the specialty chemicals company's stock valued at $66,000 after purchasing an additional 2,072 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Orion by 48.0% during the first quarter. Glenmede Trust Co. NA now owns 16,694 shares of the specialty chemicals company's stock worth $109,000 after purchasing an additional 5,418 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new position in Orion during the second quarter worth $37,000. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Orion Company Profile

Orion SA NYSE: OEC is a specialty chemicals company that develops, produces and markets carbon black. Its products are used as pigments, performance additives and conductive materials in applications including tires, rubber goods, coatings, printing inks, plastics, batteries and other industrial products.

The company supplies both specialty and high-performance carbon black products, which can provide coloration, ultraviolet protection, conductivity and reinforcement. Orion serves customers across a range of industries and operates internationally, with manufacturing and commercial activities spanning the Americas, Europe, the Middle East, Africa and Asia-Pacific.

Orion traces its roots to the carbon black operations formerly associated with Evonik Industries and became an independent publicly traded company in 2011.

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