Envestnet Asset Management Inc. Decreases Stock Position in Orion S.A. (NYSE:OEC)

Key Points

• Envestnet Asset Management Inc. has reduced its stake in Orion S.A. by 38.5%, selling 29,985 shares, and now holds about 0.08% of the company valued at $619,000.
• Orion S.A. reported earnings per share of $0.22 for the last quarter, missing expectations, and showcased a 5.0% decline in revenue compared to the same period last year.
• The company has announced an interim dividend of $0.0207 per share, with a payout ratio of 17.39% and an upcoming payment date on October 8th.

Envestnet Asset Management Inc. lessened its position in Orion S.A. (NYSE:OEC - Free Report) by 38.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,892 shares of the specialty chemicals company's stock after selling 29,985 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Orion worth $619,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of OEC. Exchange Traded Concepts LLC raised its position in shares of Orion by 1,256.0% in the first quarter. Exchange Traded Concepts LLC now owns 6,007 shares of the specialty chemicals company's stock valued at $78,000 after buying an additional 5,564 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Orion in the fourth quarter valued at approximately $159,000. KLP Kapitalforvaltning AS acquired a new position in Orion during the fourth quarter worth approximately $171,000. Trexquant Investment LP acquired a new position in Orion during the fourth quarter worth approximately $206,000. Finally, Freestone Grove Partners LP acquired a new position in Orion during the fourth quarter worth approximately $211,000. Institutional investors and hedge funds own 94.33% of the company's stock.

Orion Trading Down 2.7%

OEC traded down $0.29 during trading on Friday, hitting $10.59. 328,893 shares of the company's stock were exchanged, compared to its average volume of 592,846. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.41. Orion S.A. has a 1 year low of $9.03 and a 1 year high of $19.48. The stock has a 50 day moving average price of $10.78 and a 200 day moving average price of $12.11. The firm has a market cap of $595.90 million, a P/E ratio of 39.26 and a beta of 1.10.

Orion (NYSE:OEC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Orion had a return on equity of 16.62% 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 quarter in the prior year, the firm earned $0.41 earnings per share. Orion's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts expect that Orion S.A. will post 1.73 EPS for the current fiscal year.

Orion Announces Dividend

The firm also recently disclosed a interim dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.0207 per share. This represents a yield of 80.0%. The ex-dividend date is Monday, July 7th. Orion's payout ratio is currently 17.39%.

Analyst Ratings Changes

Several brokerages recently commented on OEC. UBS Group dropped their price target on shares of Orion from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Mizuho dropped their price target on shares of Orion from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lowered shares of Orion from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $18.00 to $12.00 in a research report on Thursday, April 24th.

Orion Profile

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.