Orion S.A. (NYSE:OEC) Short Interest Update

Key Points

• Orion S.A. experienced a 28.9% increase in short interest in August, bringing the total short interest to 896,500 shares, which constitutes approximately 1.7% of the company's stock.
• The company reported a miss in earnings for the last quarter, with earnings per share of $0.32, falling short of the consensus estimate of $0.36.
• Orion S.A. announced an interim dividend of $0.0207 per share, with a dividend yield of 80.0%, scheduled to be paid on January 20th to stockholders recorded by December 12th.

Orion S.A. (NYSE:OEC - Get Free Report) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 896,500 shares, a growth of 28.9% from the August 15th total of 695,500 shares. Approximately 1.7% of the company's shares are sold short. Based on an average daily trading volume, of 578,500 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 578,500 shares, the short-interest ratio is currently 1.5 days. Approximately 1.7% of the company's shares are sold short.

Orion Trading Down 2.1%

Shares of Orion stock traded down $0.18 on Friday, hitting $8.50. 1,006,421 shares of the company's stock traded hands, compared to its average volume of 485,168. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.10 and a quick ratio of 0.64. Orion has a one year low of $8.42 and a one year high of $19.48. The firm's 50-day moving average price is $10.26 and its two-hundred day moving average price is $11.19. The stock has a market capitalization of $477.28 million, a PE ratio of 31.48 and a beta of 1.05.

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

Orion Announces Dividend

The business also recently disclosed a interim dividend, which will be paid on Tuesday, January 20th. Investors of record on Friday, December 12th will be given a dividend of $0.0207 per share. This represents a yield of 80.0%. The ex-dividend date of this dividend is Friday, December 12th. Orion's dividend payout ratio (DPR) is 29.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Zacks Research upgraded Orion to a "strong sell" rating in a report on Tuesday, August 12th. Mizuho reissued an "underperform" rating and issued a $9.00 target price on shares of Orion in a report on Friday, September 12th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $9.00 price objective (down previously from $10.00) on shares of Orion in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $11.67.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OEC. Pzena Investment Management LLC lifted its holdings in Orion by 37.5% during the second quarter. Pzena Investment Management LLC now owns 4,577,197 shares of the specialty chemicals company's stock worth $48,015,000 after buying an additional 1,248,295 shares during the period. Harvey Partners LLC grew its position in Orion by 15.5% during the 2nd quarter. Harvey Partners LLC now owns 2,424,995 shares of the specialty chemicals company's stock worth $25,438,000 after purchasing an additional 325,995 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Orion during the 1st quarter worth $4,019,000. CSM Advisors LLC purchased a new stake in Orion in the second quarter valued at approximately $2,743,000. Finally, Invenomic Capital Management LP purchased a new stake in Orion during the 1st quarter worth $3,125,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

About Orion

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.