Algert Global LLC Buys Shares of 33,300 Orion S.A. $OEC

Key Points

• Algert Global LLC has acquired a new stake in Orion S.A. by purchasing 33,300 shares, valued at approximately $431,000, representing about 0.06% ownership of the company.
• Several other hedge funds recently increased their positions in Orion S.A., with notable increases from Wells Fargo and First Trust Advisors, indicating strong institutional interest.
• Orion S.A. reported a net margin of 0.82% and earnings of $0.32 per share, falling short of analysts' estimates, while also announcing a dividend of $0.0207 per share scheduled for October 8th.

Algert Global LLC purchased a new stake in shares of Orion S.A. (NYSE:OEC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 33,300 shares of the specialty chemicals company's stock, valued at approximately $431,000. Algert Global LLC owned about 0.06% of Orion as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in OEC. Exchange Traded Concepts LLC grew its stake in Orion by 1,256.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,007 shares of the specialty chemicals company's stock valued at $78,000 after purchasing an additional 5,564 shares during the last quarter. CWM LLC boosted its stake in shares of Orion by 831.7% in the first quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company's stock worth $86,000 after buying an additional 5,947 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Orion in the fourth quarter worth about $159,000. Virtu Financial LLC purchased a new stake in shares of Orion in the first quarter worth about $177,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Orion in the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 94.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OEC. Mizuho lowered their target price on Orion from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $9.00 target price (down previously from $10.00) on shares of Orion in a research note on Monday, August 11th. UBS Group lowered their target price on Orion from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Zacks Research upgraded Orion to a "strong sell" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Orion currently has an average rating of "Reduce" and an average target price of $12.00.

Orion Price Performance

NYSE OEC traded up $0.05 during trading hours on Thursday, reaching $10.47. The company's stock had a trading volume of 559,916 shares, compared to its average volume of 600,067. The firm has a market capitalization of $588.06 million, a price-to-earnings ratio of 38.79 and a beta of 1.10. Orion S.A. has a 1-year low of $9.03 and a 1-year high of $19.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.10 and a quick ratio of 0.64. The company's 50-day moving average is $10.58 and its two-hundred day moving average is $11.73.

Orion (NYSE:OEC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). The business had revenue of $466.40 million during the quarter, compared to analyst estimates of $475.77 million. Orion had a return on equity of 16.67% and a net margin of 0.82%.The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, equities analysts predict that Orion S.A. will post 1.73 EPS for the current year.

Orion Dividend Announcement

The company also recently announced a interim dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.0207 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a dividend yield of 80.0%. Orion's dividend payout ratio is presently 29.63%.

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.