Voloridge Investment Management LLC Sells 41,402 Shares of Orion S.A. (NYSE:OEC)

Voloridge Investment Management LLC trimmed its holdings in Orion S.A. (NYSE:OEC - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,118 shares of the specialty chemicals company's stock after selling 41,402 shares during the period. Voloridge Investment Management LLC owned about 0.42% of Orion worth $3,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its stake in Orion by 20.3% in the fourth quarter. Nuveen Asset Management LLC now owns 694,579 shares of the specialty chemicals company's stock valued at $10,967,000 after acquiring an additional 117,022 shares during the period. Deutsche Bank AG grew its stake in Orion by 48.9% in the fourth quarter. Deutsche Bank AG now owns 52,125 shares of the specialty chemicals company's stock valued at $823,000 after acquiring an additional 17,109 shares during the period. JPMorgan Chase & Co. grew its stake in Orion by 18.3% in the fourth quarter. JPMorgan Chase & Co. now owns 717,377 shares of the specialty chemicals company's stock valued at $11,327,000 after acquiring an additional 110,911 shares during the period. American Century Companies Inc. grew its stake in Orion by 12.1% in the fourth quarter. American Century Companies Inc. now owns 1,747,183 shares of the specialty chemicals company's stock valued at $27,588,000 after acquiring an additional 188,131 shares during the period. Finally, Carnegie Lake Advisors LLC grew its stake in Orion by 72.1% in the fourth quarter. Carnegie Lake Advisors LLC now owns 69,461 shares of the specialty chemicals company's stock valued at $1,097,000 after acquiring an additional 29,100 shares during the period. 94.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Carlos Quinones bought 3,300 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $13.07 per share, for a total transaction of $43,131.00. Following the completion of the acquisition, the vice president now owns 79,702 shares of the company's stock, valued at approximately $1,041,705.14. The trade was a 4.32% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on OEC shares. UBS Group decreased their target price on Orion from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut Orion from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $18.00 to $12.00 in a research note on Thursday, April 24th.

Orion Stock Down 1.4%

Shares of OEC stock traded down $0.15 on Friday, hitting $10.90. 770,002 shares of the stock were exchanged, compared to its average volume of 546,998. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $613.34 million, a P/E ratio of 14.53 and a beta of 1.20. The business has a 50-day moving average of $11.65 and a 200 day moving average of $14.05. Orion S.A. has a fifty-two week low of $9.59 and a fifty-two week high of $25.24.

Orion (NYSE:OEC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.31). The firm had revenue of $477.70 million for the quarter, compared to analyst estimates of $486.06 million. Orion had a return on equity of 20.94% and a net margin of 2.35%. The firm's quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. Equities analysts anticipate that Orion S.A. will post 1.73 EPS for the current year.

Orion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.0207 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.08 annualized dividend and a dividend yield of 0.76%. Orion's dividend payout ratio is currently 17.39%.

Orion 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.