Pzena Investment Management LLC Has $48.02 Million Stock Holdings in Orion S.A. $OEC

Key Points

• Pzena Investment Management LLC increased its holdings in Orion S.A. by 37.5% during the second quarter, owning approximately 8.13% of the company, valued at $48.02 million.
• Orion recently updated its interim dividend to be paid on January 20th, with a record date of December 12th, offering shareholders $0.0207 per share, translating to a yield of 80.0%.
• Analysts have mixed ratings on Orion's stock, with one broker rating it Buy and four giving it a Sell rating, resulting in a consensus price target of $9.33.

Pzena Investment Management LLC raised its holdings in Orion S.A. (NYSE:OEC - Free Report) by 37.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,577,197 shares of the specialty chemicals company's stock after buying an additional 1,248,295 shares during the period. Pzena Investment Management LLC owned about 8.13% of Orion worth $48,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new stake in Orion in the first quarter valued at approximately $59,000. Exchange Traded Concepts LLC raised its stake in Orion by 1,256.0% in the first quarter. Exchange Traded Concepts LLC now owns 6,007 shares of the specialty chemicals company's stock valued at $78,000 after buying an additional 5,564 shares during the period. CWM LLC raised its stake in Orion by 831.7% in the first quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company's stock valued at $86,000 after buying an additional 5,947 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Orion in the fourth quarter valued at approximately $159,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Orion in the first quarter valued at approximately $137,000. Institutional investors own 94.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OEC. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $9.00 target price (down previously from $10.00) on shares of Orion in a research note on Monday, August 11th. UBS Group lowered their target price on Orion from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, October 6th. Zacks Research upgraded Orion to a "strong sell" rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of Orion in a research note on Wednesday, October 8th. Finally, Mizuho set a $7.00 price target on Orion in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and a consensus price target of $9.33.

Orion Trading Down 4.1%

Shares of OEC stock opened at $6.60 on Monday. The stock's fifty day moving average price is $9.27 and its two-hundred day moving average price is $10.55. The company has a market cap of $370.59 million, a PE ratio of 24.44 and a beta of 1.02. Orion S.A. has a fifty-two week low of $6.57 and a fifty-two week high of $19.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.64 and a current ratio of 1.10.

Orion (NYSE:OEC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). The business had revenue of $466.40 million during the quarter, compared to analyst estimates of $475.77 million. Orion had a net margin of 0.82% and a return on equity of 16.67%. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. Equities analysts predict that Orion S.A. will post 1.73 EPS for the current fiscal year.

Orion Announces Dividend

The firm also recently announced a interim dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Friday, December 12th will be issued a $0.0207 dividend. This represents a dividend yield of 80.0%. The ex-dividend date of this dividend is Friday, December 12th. Orion's dividend payout ratio (DPR) is currently 29.63%.

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.

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