Orion S.A. $OEC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its Orion stake by 6.4% in the first quarter, selling 140,901 shares and retaining 2.06 million shares valued at approximately $13.4 million. Institutional investors and hedge funds collectively own 94.33% of the company.
• Orion reported quarterly EPS of $0.14, below the $0.16 consensus estimate, although revenue of $500.9 million exceeded expectations. The stock opened at $7.24, with a market capitalization of about $408.9 million.
• Analysts remain cautious, with Orion carrying a consensus rating of “Strong Sell” and an average price target of $6.08. The company declared a quarterly dividend of $0.0207 per share, equivalent to an annualized yield of approximately 1.1%.

Dimensional Fund Advisors LP reduced its position in shares of Orion S.A. (NYSE:OEC - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,060,438 shares of the specialty chemicals company's stock after selling 140,901 shares during the period. Dimensional Fund Advisors LP owned about 3.65% of Orion worth $13,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Orion by 10.7% in the first quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company's stock valued at $3,661,000 after purchasing an additional 27,442 shares during the period. AQR Capital Management LLC lifted its holdings in Orion by 86.2% during the 1st quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company's stock worth $1,928,000 after buying an additional 69,054 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Orion by 3.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company's stock valued at $438,000 after buying an additional 1,097 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Orion in the first quarter worth $137,000. Finally, Jane Street Group LLC increased its position in shares of Orion by 202.7% during the first quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company's stock worth $1,566,000 after acquiring an additional 81,079 shares during the period. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Trading Down 4.8%

OEC opened at $7.24 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.62 and a current ratio of 1.03. Orion S.A. has a one year low of $4.34 and a one year high of $11.20. The company has a market cap of $408.92 million, a P/E ratio of -4.18 and a beta of 1.00. The business's 50-day simple moving average is $6.84 and its 200-day simple moving average is $6.59.

Orion (NYSE:OEC - Get Free Report) last announced its quarterly 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 company had revenue of $500.90 million during the quarter, compared to analysts' expectations of $474.43 million. Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. As a group, equities research analysts expect that Orion S.A. will post 0.13 EPS for the current fiscal year.

Orion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Monday, July 6th will be paid a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, July 6th. Orion's dividend payout ratio (DPR) is currently -4.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Orion from a "sell" rating to a "hold" rating in a report on Sunday. UBS Group boosted their price objective on Orion from $7.50 to $8.00 and gave the stock a "neutral" rating in a research report on Friday. Weiss Ratings restated a "sell (d)" rating on shares of Orion in a research note on Friday, July 17th. Finally, Zacks Research upgraded shares of Orion from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Orion presently has a consensus rating of "Strong Sell" and an average target price of $6.08.

About Orion

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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