Ieq Capital LLC Makes New $1.26 Million Investment in Orion S.A. $OEC

Key Points

• Ieq Capital LLC acquired 190,101 Orion shares worth approximately $1.26 million in the second quarter, giving it a 0.34% stake. Institutional investors collectively own 94.33% of Orion.
• Analyst sentiment remains weak: Orion has a consensus rating of “Strong Sell” and an average price target of $6.08, despite Zacks Research and Wall Street Zen upgrading the stock to “Hold.”
• Orion reported quarterly revenue of $500.9 million, exceeding expectations, but EPS of $0.14 missed estimates of $0.16. The company also declared a quarterly dividend of $0.0207 per share, representing a 1.3% annualized yield.

Ieq Capital LLC acquired a new stake in Orion S.A. (NYSE:OEC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 190,101 shares of the specialty chemicals company's stock, valued at approximately $1,260,000. Ieq Capital LLC owned approximately 0.34% of Orion as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of Orion during the second quarter valued at approximately $28,000. Quarry LP lifted its holdings in Orion by 430.9% in the fourth quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 4,757 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in Orion during the second quarter valued at about $37,000. Performa Ltd US LLC increased its stake in Orion by 690.0% in the 4th quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company's stock worth $42,000 after buying an additional 6,900 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in Orion in the 4th quarter valued at $53,000. Institutional investors own 94.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OEC. Zacks Research raised shares of Orion from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Weiss Ratings restated a "sell (d)" rating on shares of Orion in a report on Friday, July 17th. Wall Street Zen raised Orion from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, UBS Group increased their target price on shares of Orion from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Orion currently has a consensus rating of "Strong Sell" and a consensus price target of $6.08.

Orion Stock Up 3.2%

OEC stock opened at $6.16 on Thursday. The firm has a 50-day simple moving average of $6.54 and a 200-day simple moving average of $6.58. Orion S.A. has a 52 week low of $4.34 and a 52 week high of $10.85. The company has a quick ratio of 0.64, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $348.16 million, a P/E ratio of -3.56 and a beta of 1.00.

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

Orion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Monday, July 6th will be paid a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th. Orion's dividend payout ratio is -4.62%.

Orion Company 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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