JB Capital Partners LP Takes Position in Orion S.A. $OEC

Key Points

• JB Capital Partners LP acquired 335,000 Orion shares in the second quarter, representing approximately 0.59% of the company; institutional investors collectively own 94.33% of OEC.
• Analyst sentiment remains bearish: Orion has a consensus rating of “Strong Sell” from five analysts, with an average price target of $6.08, despite UBS raising its target to $8.00.
• Orion reported quarterly EPS of $0.14, below the $0.16 estimate, while revenue of $500.9 million exceeded forecasts. The company also declared a quarterly dividend of $0.0207 per share, equivalent to a 1.4% annualized yield.

JB Capital Partners LP bought a new position in shares of Orion S.A. (NYSE:OEC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 335,000 shares of the specialty chemicals company's stock, valued at approximately $2,214,350,000. JB Capital Partners LP owned approximately 0.59% of Orion as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of OEC. Allworth Financial LP acquired a new position in Orion during the second quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Orion during the 2nd quarter worth approximately $37,000. Quarry LP raised its stake in shares of Orion by 430.9% during the 4th quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 4,757 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Orion by 321.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company's stock worth $77,000 after purchasing an additional 5,632 shares in the last quarter. Finally, Performa Ltd US LLC boosted its holdings in shares of Orion by 690.0% in the 4th quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company's stock valued at $42,000 after buying an additional 6,900 shares during the last quarter. Institutional investors own 94.33% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OEC. Zacks Research raised shares of Orion from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Orion from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Orion in a research note on Friday, July 17th. Finally, UBS Group lifted their price objective 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and an average target price of $6.08.

Orion Price Performance

NYSE:OEC opened at $6.09 on Friday. 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's 50 day moving average price is $6.65 and its two-hundred day moving average price is $6.59. The firm has a market capitalization of $344.21 million, a price-to-earnings ratio of -3.52 and a beta of 1.00. Orion S.A. has a 12-month low of $4.34 and a 12-month high of $10.89.

Orion (NYSE:OEC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business 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%. On average, analysts anticipate that Orion S.A. will post 0.08 earnings per share for the current year.

Orion Announces Dividend

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

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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