Entropy Technologies LP Makes New $318,000 Investment in Orion S.A. $OEC

Key Points

• Entropy Technologies LP has acquired a new stake in Orion S.A. (NYSE:OEC), purchasing 24,616 shares valued at approximately $318,000 in the first quarter.
• Several hedge funds, including Wells Fargo & Company MN and Russell Investments Group Ltd., significantly increased their positions in Orion during the fourth quarter, indicating strong institutional interest.
• Orion's stock has experienced fluctuations, currently at $10.06, with a recent performance indicating a revenue decline of 2.2% compared to the same quarter last year.

Entropy Technologies LP acquired a new stake in Orion S.A. (NYSE:OEC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,616 shares of the specialty chemicals company's stock, valued at approximately $318,000.

A number of other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Orion during the 1st quarter worth $377,000. Wealth Enhancement Advisory Services LLC grew its stake in Orion by 30.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,108 shares of the specialty chemicals company's stock worth $169,000 after purchasing an additional 3,046 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Orion by 20.3% during the 4th quarter. Nuveen Asset Management LLC now owns 694,579 shares of the specialty chemicals company's stock worth $10,967,000 after purchasing an additional 117,022 shares in the last quarter. Rhumbline Advisers grew its stake in Orion by 5.5% during the 1st quarter. Rhumbline Advisers now owns 83,511 shares of the specialty chemicals company's stock worth $1,080,000 after purchasing an additional 4,334 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Orion during the 4th quarter worth $382,000. 94.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OEC shares. UBS Group lowered their target price on Orion from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $9.00 target price (down from $10.00) on shares of Orion in a research note on Monday, August 11th. Zacks Research raised Orion to a "strong sell" rating in a report on Tuesday, August 12th. Finally, Mizuho decreased their price target on Orion from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $12.00.

Orion Stock Performance

Orion stock traded up $0.2250 during mid-day trading on Tuesday, reaching $10.2850. 127,110 shares of the company were exchanged, compared to its average volume of 602,543. Orion S.A. has a twelve month low of $9.03 and a twelve month high of $19.48. The firm's 50-day simple moving average is $10.66 and its two-hundred day simple moving average is $11.86. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.64 and a current ratio of 1.10. The firm has a market cap of $577.50 million, a PE ratio of 38.28 and a beta of 1.10.

Orion (NYSE:OEC - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $475.77 million. During the same period last year, the company posted $0.41 earnings per share. The business's quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts predict that Orion S.A. will post 1.73 earnings per share for the current fiscal year.

Orion Dividend Announcement

The firm also recently disclosed a interim dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Monday, July 7th will be given a $0.0207 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a dividend yield of 80.0%. Orion's 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.