Orion S.A. (NYSE:OEC) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Orion S.A. (NYSE:OEC) by 11.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,983 shares of the specialty chemicals company’s stock after purchasing an additional 2,790 shares during the period. Principal Financial Group Inc.’s holdings in Orion were worth $592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Orion by 207.0% during the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 1,412 shares during the period. Lazard Asset Management LLC lifted its stake in Orion by 1,375.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock worth $89,000 after acquiring an additional 3,534 shares in the last quarter. Mendota Financial Group LLC purchased a new position in Orion during the 1st quarter valued at about $104,000. MQS Management LLC acquired a new position in Orion in the 1st quarter valued at about $221,000. Finally, ProShare Advisors LLC increased its stake in Orion by 8.5% during the first quarter. ProShare Advisors LLC now owns 9,956 shares of the specialty chemicals company’s stock worth $234,000 after purchasing an additional 783 shares during the period. Hedge funds and other institutional investors own 94.33% of the company’s stock.

Orion Stock Up 3.4 %

OEC stock opened at $16.90 on Friday. The company’s 50 day moving average price is $19.58 and its 200 day moving average price is $22.19. The firm has a market capitalization of $986.28 million, a price-to-earnings ratio of 11.42 and a beta of 1.47. Orion S.A. has a fifty-two week low of $15.54 and a fifty-two week high of $28.48. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.80 and a current ratio of 1.39.

Orion (NYSE:OEC) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.18). The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $491.14 million. Orion had a net margin of 4.09% and a return on equity of 19.21%. Orion’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. On average, equities research analysts anticipate that Orion S.A. will post 1.85 EPS for the current fiscal year.

Orion Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, July 1st will be given a dividend of $0.0207 per share. The ex-dividend date is Monday, July 1st. This represents a $0.08 annualized dividend and a dividend yield of 0.49%. Orion’s dividend payout ratio is currently 5.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OEC shares. JPMorgan Chase & Co. lowered their price objective on shares of Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Orion from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Insider Transactions at Orion

In other Orion news, Director Dan F. Smith bought 2,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $18.53 per share, with a total value of $46,325.00. Following the transaction, the director now owns 78,772 shares of the company’s stock, valued at $1,459,645.16. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Corning F. Painter bought 20,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $17.48 per share, for a total transaction of $349,600.00. Following the completion of the transaction, the chief executive officer now owns 948,776 shares of the company’s stock, valued at $16,584,604.48. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dan F. Smith bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $18.53 per share, with a total value of $46,325.00. Following the completion of the transaction, the director now owns 78,772 shares in the company, valued at $1,459,645.16. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 47,500 shares of company stock valued at $845,225. 6.30% of the stock is currently owned by corporate insiders.

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.