GSA Capital Partners LLP purchased a new position in shares of Orion S.A. (NYSE:OEC – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 209,368 shares of the specialty chemicals company’s stock, valued at approximately $1,388,000.
Several other hedge funds also recently added to or reduced their stakes in OEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Orion by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock worth $438,000 after purchasing an additional 1,097 shares during the last quarter. MetLife Investment Management LLC grew its position in Orion by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 30,641 shares of the specialty chemicals company’s stock valued at $162,000 after acquiring an additional 1,680 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Orion by 16.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,340 shares of the specialty chemicals company’s stock valued at $65,000 after acquiring an additional 1,742 shares during the last quarter. Versant Capital Management Inc increased its stake in Orion by 26.4% in the second quarter. Versant Capital Management Inc now owns 9,925 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 2,072 shares during the period. Finally, Rhumbline Advisers increased its stake in Orion by 2.8% in the second quarter. Rhumbline Advisers now owns 85,855 shares of the specialty chemicals company’s stock worth $901,000 after purchasing an additional 2,344 shares during the period. 94.33% of the stock is currently owned by institutional investors.
Orion Price Performance
Shares of OEC stock opened at $6.43 on Monday. Orion S.A. has a 1-year low of $4.34 and a 1-year high of $10.89. The stock’s 50-day moving average is $6.78 and its 200 day moving average is $6.60. The company has a market cap of $363.59 million, a P/E ratio of -3.72 and a beta of 1.00. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 0.64.
Orion Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Monday, July 6th will be paid a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, July 6th. Orion’s payout ratio is presently -4.62%.
Analyst Upgrades and Downgrades
OEC has been the subject of a number of recent analyst reports. Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research note on Friday, July 17th. Finally, UBS Group lifted their price objective on shares of Orion from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average price target of $6.08.
View Our Latest Stock Report on Orion
About Orion
Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.
Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.
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