Renaissance Technologies LLC Sells 41,200 Shares of Orion S.A. (NYSE:OEC)

Renaissance Technologies LLC reduced its position in shares of Orion S.A. (NYSE:OEC - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582,396 shares of the specialty chemicals company's stock after selling 41,200 shares during the period. Renaissance Technologies LLC owned about 1.01% of Orion worth $9,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Jane Street Group LLC increased its position in Orion by 148.2% in the 3rd quarter. Jane Street Group LLC now owns 151,205 shares of the specialty chemicals company's stock valued at $2,693,000 after buying an additional 90,292 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Orion in the 3rd quarter worth $27,000. Barclays PLC grew its position in Orion by 320.4% in the 3rd quarter. Barclays PLC now owns 95,512 shares of the specialty chemicals company's stock valued at $1,700,000 after purchasing an additional 72,793 shares during the period. Geode Capital Management LLC increased its stake in Orion by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,301,158 shares of the specialty chemicals company's stock valued at $23,178,000 after purchasing an additional 5,378 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Orion by 3.2% during the third quarter. Franklin Resources Inc. now owns 57,672 shares of the specialty chemicals company's stock worth $984,000 after buying an additional 1,775 shares during the last quarter. Institutional investors own 94.33% of the company's stock.

Insider Activity at Orion

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on OEC. JPMorgan Chase & Co. dropped their price objective on Orion from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. UBS Group dropped their price target on shares of Orion from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th.

Orion Price Performance

NYSE OEC traded up $0.25 during trading on Wednesday, reaching $12.44. The company's stock had a trading volume of 41,648 shares, compared to its average volume of 506,056. The firm has a fifty day moving average of $13.07 and a 200 day moving average of $15.05. Orion S.A. has a one year low of $10.50 and a one year high of $26.05. The stock has a market capitalization of $704.78 million, a PE ratio of 16.59 and a beta of 1.25. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.24 and a quick ratio of 0.71.

Orion (NYSE:OEC - Get Free Report) last announced its earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. The company had revenue of $434.20 million during the quarter, compared to analyst estimates of $437.03 million. Orion had a net margin of 2.35% and a return on equity of 20.94%. Analysts expect that Orion S.A. will post 1.73 EPS for the current fiscal year.

Orion Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, March 13th. Orion's payout ratio is 10.67%.

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.