Bank of New York Mellon Corp Makes New $1.16 Million Investment in Orion S.A. $OEC

Key Points

• Bank of New York Mellon acquired 175,405 Orion shares worth approximately $1.16 million, while other institutional investors also increased or initiated positions. Institutional investors and hedge funds collectively own 94.33% of the company.
• Orion reported quarterly EPS of $0.14, below the $0.16 consensus estimate, though revenue of $500.9 million exceeded expectations. The company has a $325.27 million market capitalization and trades near the lower half of its 52-week range.
• Analyst sentiment remains weak, with a consensus rating of “Strong Sell” and an average price target of $6.08. Orion also announced a quarterly dividend of $0.0207 per share, representing an annualized yield of approximately 1.4%.

Bank of New York Mellon Corp acquired a new stake in Orion S.A. (NYSE:OEC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 175,405 shares of the specialty chemicals company's stock, valued at approximately $1,163,000. Bank of New York Mellon Corp owned 0.31% of Orion as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming bought a new stake in Orion in the 2nd quarter valued at $324,000. GSA Capital Partners LLP acquired a new position in shares of Orion in the second quarter valued at $1,388,000. Versant Capital Management Inc raised its position in shares of Orion by 26.4% in the second 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 during the period. Glenmede Trust Co. NA raised its position in shares of Orion by 48.0% in the first quarter. Glenmede Trust Co. NA now owns 16,694 shares of the specialty chemicals company's stock valued at $109,000 after purchasing an additional 5,418 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Orion by 91.2% during the 1st quarter. Bank of America Corp DE now owns 248,838 shares of the specialty chemicals company's stock worth $1,617,000 after buying an additional 118,711 shares during the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Stock Performance

OEC opened at $5.75 on Thursday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 1.03. Orion S.A. has a 52-week low of $4.34 and a 52-week high of $10.58. The firm has a market cap of $325.27 million, a P/E ratio of -3.33 and a beta of 0.99. The business's fifty day moving average is $6.36 and its 200-day moving average is $6.52.

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

Orion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Monday, July 6th will be issued a $0.0207 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, July 6th. Orion's dividend payout ratio (DPR) is currently -4.62%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Orion in a report on Friday, July 17th. UBS Group upped their target price on Orion from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Zacks Research raised Orion from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Orion from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average price target of $6.08.

Orion Profile

Orion Engineered Carbons SA, operating as Orion NYSE: OEC, is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.

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