Envestnet Asset Management Inc. Sells 29,985 Shares of 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. reduced its stake in Orion S.A. (NYSE:OEC - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,892 shares of the specialty chemicals company's stock after selling 29,985 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Orion worth $619,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OEC. EVR Research LP acquired a new stake in shares of Orion in the fourth quarter valued at approximately $12,632,000. Penn Capital Management Company LLC acquired a new position in shares of Orion during the fourth quarter valued at approximately $8,974,000. Cooper Creek Partners Management LLC acquired a new position in shares of Orion during the fourth quarter valued at approximately $7,464,000. CenterBook Partners LP acquired a new position in shares of Orion during the fourth quarter valued at approximately $5,302,000. Finally, Brown Advisory Inc. increased its stake in shares of Orion by 11.3% during the fourth quarter. Brown Advisory Inc. now owns 2,617,287 shares of the specialty chemicals company's stock valued at $41,327,000 after acquiring an additional 265,184 shares during the period. 94.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OEC has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Orion from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Mizuho decreased their price objective on shares of Orion from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lowered shares of Orion from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $18.00 to $12.00 in a research note on Thursday, April 24th.

Orion Stock Performance

NYSE OEC traded down $0.62 during midday trading on Wednesday, hitting $9.09. The company had a trading volume of 710,807 shares, compared to its average volume of 589,382. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.41. The stock has a market cap of $511.38 million, a price-to-earnings ratio of 19.76 and a beta of 1.10. The firm has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $12.15. Orion S.A. has a fifty-two week low of $9.03 and a fifty-two week high of $19.48.

Orion (NYSE:OEC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The specialty chemicals company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). Orion had a net margin of 1.44% and a return on equity of 17.66%. Equities analysts forecast that Orion S.A. will post 1.73 earnings per share for the current fiscal year.

Orion Dividend Announcement

The business also recently declared a interim dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Monday, July 7th will be issued a $0.0207 dividend. This represents a dividend yield of 80.0%. The ex-dividend date is Monday, July 7th. Orion's dividend payout ratio is 17.39%.

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.