Algert Global LLC Buys New Shares in 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 acquired a new stake in Orion S.A. (NYSE:OEC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 33,300 shares of the specialty chemicals company's stock, valued at approximately $431,000. Algert Global LLC owned 0.06% of Orion at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OEC. Pzena Investment Management LLC lifted its stake in Orion by 0.5% in the first quarter. Pzena Investment Management LLC now owns 3,328,902 shares of the specialty chemicals company's stock valued at $43,043,000 after purchasing an additional 16,612 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Orion by 0.8% during the first quarter. Brown Advisory Inc. now owns 2,638,320 shares of the specialty chemicals company's stock worth $34,113,000 after acquiring an additional 21,033 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Orion by 11.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,186,942 shares of the specialty chemicals company's stock worth $34,529,000 after acquiring an additional 233,342 shares in the last quarter. Minneapolis Portfolio Management Group LLC lifted its position in shares of Orion by 1.3% during the first quarter. Minneapolis Portfolio Management Group LLC now owns 1,946,739 shares of the specialty chemicals company's stock worth $25,171,000 after acquiring an additional 24,041 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Orion by 8.2% during the first quarter. American Century Companies Inc. now owns 1,889,917 shares of the specialty chemicals company's stock worth $24,437,000 after acquiring an additional 142,734 shares in the last quarter. Institutional investors own 94.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OEC shares. Zacks Research upgraded Orion to a "strong sell" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. restated an "underweight" rating and set a $9.00 target price (down previously from $10.00) on shares of Orion in a research report on Monday, August 11th. Mizuho dropped their target price on Orion from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Finally, UBS Group dropped their target price on Orion from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One equities research 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. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $12.00.

Orion Price Performance

Shares of OEC stock traded up $0.08 on Friday, reaching $10.54. The company's stock had a trading volume of 421,784 shares, compared to its average volume of 676,726. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 1.46. Orion S.A. has a 12-month low of $9.03 and a 12-month high of $19.48. The company has a market capitalization of $591.99 million, a P/E ratio of 39.05 and a beta of 1.10. The stock's 50 day simple moving average is $10.60 and its 200-day simple moving average is $11.66.

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

Orion Announces Dividend

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