Walleye Capital LLC Invests $360,000 in Orion S.A. $OEC

Key Points

• Walleye Capital LLC has invested approximately $360,000 in Orion S.A., purchasing 27,855 shares of the specialty chemicals company during the first quarter.
• Orion S.A. reported earnings per share (EPS) of $0.32 for the last quarter, missing analysts' estimates and showing a 2.2% year-over-year decline in revenue.
• Several analysts have recently downgraded Orion S.A.'s stock, with current ratings indicating a consensus target price of $12.00 and a prevailing "Reduce" rating.

Walleye Capital LLC purchased a new position in Orion S.A. (NYSE:OEC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 27,855 shares of the specialty chemicals company's stock, valued at approximately $360,000.

Several other large investors have also recently modified their holdings of the stock. Pzena Investment Management LLC raised its position in shares of Orion by 0.5% in the 1st quarter. Pzena Investment Management LLC now owns 3,328,902 shares of the specialty chemicals company's stock worth $43,043,000 after purchasing an additional 16,612 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Orion by 0.8% in the 1st quarter. Brown Advisory Inc. now owns 2,638,320 shares of the specialty chemicals company's stock worth $34,113,000 after purchasing an additional 21,033 shares during the last quarter. Minneapolis Portfolio Management Group LLC raised its position in Orion by 1.3% in the 1st quarter. Minneapolis Portfolio Management Group LLC now owns 1,946,739 shares of the specialty chemicals company's stock worth $25,171,000 after buying an additional 24,041 shares during the last quarter. American Century Companies Inc. raised its position in Orion by 8.2% in the 1st quarter. American Century Companies Inc. now owns 1,889,917 shares of the specialty chemicals company's stock worth $24,437,000 after buying an additional 142,734 shares during the last quarter. Finally, Invesco Ltd. raised its position in Orion by 1.3% in the 1st quarter. Invesco Ltd. now owns 1,714,253 shares of the specialty chemicals company's stock worth $22,165,000 after buying an additional 21,954 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company's stock.

Wall Street Analyst Weigh In

OEC has been the subject of a number of recent analyst reports. Zacks Research raised Orion to a "strong sell" rating in a research report on Tuesday, August 12th. 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 report on Thursday, May 8th. Mizuho decreased their target price on Orion from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $9.00 target price (down previously from $10.00) on shares of Orion in a research report on Monday, August 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $12.00.

Orion Trading Down 1.5%

Orion stock opened at $10.39 on Wednesday. The business has a 50-day simple moving average of $10.60 and a two-hundred day simple moving average of $11.61. The company has a market cap of $583.51 million, a P/E ratio of 38.49 and a beta of 1.05. Orion S.A. has a 52-week low of $9.03 and a 52-week high of $19.48. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 1.46.

Orion (NYSE:OEC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). The firm had revenue of $466.40 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.41 earnings per share. Analysts predict that Orion S.A. will post 1.73 EPS for the current year.

Orion Dividend Announcement

The company also recently declared a interim dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.0207 per share. This represents a dividend yield of 80.0%. The ex-dividend date is Monday, July 7th. Orion's payout ratio is currently 29.63%.

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.

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