Carnegie Lake Advisors LLC Grows Position in Orion S.A. (NYSE:OEC)

Carnegie Lake Advisors LLC raised its holdings in shares of Orion S.A. (NYSE:OEC - Free Report) by 169.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 186,821 shares of the specialty chemicals company's stock after purchasing an additional 117,360 shares during the period. Orion accounts for about 1.0% of Carnegie Lake Advisors LLC's portfolio, making the stock its 24th largest position. Carnegie Lake Advisors LLC owned 0.33% of Orion worth $2,416,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Orion by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,760 shares of the specialty chemicals company's stock worth $517,000 after purchasing an additional 1,164 shares during the last quarter. MetLife Investment Management LLC grew its position in Orion by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 35,294 shares of the specialty chemicals company's stock worth $557,000 after purchasing an additional 1,954 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position in Orion by 19.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,577 shares of the specialty chemicals company's stock worth $357,000 after purchasing an additional 3,630 shares during the last quarter. Finally, Rhumbline Advisers lifted 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 valued at $1,080,000 after acquiring an additional 4,334 shares during the period. Hedge funds and other institutional investors own 94.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on OEC. JPMorgan Chase & Co. cut shares of Orion from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $12.00 in a research note on Thursday, April 24th. Mizuho decreased their target price 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, UBS Group decreased their target price 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.

Orion Price Performance

NYSE OEC traded up $0.53 on Tuesday, hitting $11.16. The company had a trading volume of 651,577 shares, compared to its average volume of 570,370. The company has a market capitalization of $627.97 million, a PE ratio of 24.26 and a beta of 1.07. The company's fifty day moving average price is $10.93 and its 200-day moving average price is $12.50. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.14 and a quick ratio of 0.65. Orion S.A. has a 12-month low of $9.59 and a 12-month high of $24.85.

Orion (NYSE:OEC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.31). The company had revenue of $477.70 million during the quarter, compared to analysts' expectations of $486.06 million. Orion had a return on equity of 17.66% and a net margin of 1.44%. Orion's revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, analysts predict that Orion S.A. will post 1.73 earnings per share for the current year.

Orion Dividend Announcement

The business also recently declared a interim dividend, which will be paid on Wednesday, October 8th. Investors of record on Monday, July 7th will be issued a $0.0207 dividend. This represents a yield of 0.8%. The ex-dividend date is Monday, July 7th. Orion's payout ratio is presently 17.39%.

Orion Company 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.