Principal Financial Group Inc. Invests $1.25 Million in Orion S.A. $OEC

Key Points

• Principal Financial Group acquired 192,713 Orion shares worth approximately $1.25 million, taking a 0.34% stake. Institutional investors collectively own 94.33% of the company, with several funds significantly increasing their positions.
• Orion shares opened at $6.74 after falling 5.8%; the company recently reported a quarterly loss of $0.11 per share, missing estimates, although revenue of $459.5 million exceeded forecasts.
• Analyst sentiment remains negative, with one Hold and four Sell ratings and a consensus price target of $5.92. Orion declared a quarterly dividend of $0.0207 per share, equivalent to an annualized yield of about 1.2%.

Principal Financial Group Inc. purchased a new stake in shares of Orion S.A. (NYSE:OEC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 192,713 shares of the specialty chemicals company's stock, valued at approximately $1,253,000. Principal Financial Group Inc. owned approximately 0.34% of Orion at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC increased its position in Orion by 361.3% during the fourth quarter. AQR Capital Management LLC now owns 874,279 shares of the specialty chemicals company's stock worth $4,616,000 after buying an additional 684,749 shares during the last quarter. Verition Fund Management LLC raised its holdings in Orion by 190.0% during the third quarter. Verition Fund Management LLC now owns 582,141 shares of the specialty chemicals company's stock valued at $4,413,000 after buying an additional 381,388 shares in the last quarter. CastleKnight Management LP lifted its position in shares of Orion by 376.2% in the fourth quarter. CastleKnight Management LP now owns 471,941 shares of the specialty chemicals company's stock worth $2,492,000 after buying an additional 372,841 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Orion during the 4th quarter worth about $1,910,000. Finally, JB Capital Partners LP bought a new stake in shares of Orion during the 4th quarter worth about $1,769,000. Institutional investors and hedge funds own 94.33% of the company's stock.

Orion Stock Down 5.8%

OEC stock opened at $6.74 on Friday. The stock has a market capitalization of $379.96 million, a price-to-earnings ratio of -4.21 and a beta of 1.00. The company has a 50-day moving average of $6.89 and a two-hundred day moving average of $6.56. Orion S.A. has a 52-week low of $4.34 and a 52-week high of $11.20. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.00 and a quick ratio of 0.62.

Orion (NYSE:OEC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.18). Orion had a positive return on equity of 2.23% and a negative net margin of 4.98%.The business had revenue of $459.50 million during the quarter, compared to the consensus estimate of $434.31 million. As a group, equities research analysts anticipate that Orion S.A. will post 0.1 EPS for the current year.

Orion Dividend Announcement

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 given a $0.0207 dividend. This represents a $0.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, July 6th. Orion's payout ratio is currently -5.00%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group increased their price objective on Orion from $7.00 to $7.50 and gave the company a "neutral" rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Orion in a research report on Friday, July 17th. Wall Street Zen upgraded Orion from a "sell" rating to a "hold" rating in a report on Thursday, April 9th. Finally, Zacks Research downgraded Orion from a "hold" rating to a "strong sell" rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Orion currently has an average rating of "Strong Sell" and a consensus price target of $5.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.