Corning F. Painter Buys 10,000 Shares of Orion S.A. (NYSE:OEC) Stock

Orion S.A. (NYSE:OEC) CEO Corning F. Painter acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $17.69 per share, with a total value of $176,900.00. Following the purchase, the chief executive officer now owns 958,776 shares of the company’s stock, valued at $16,960,747.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Orion Stock Up 3.4 %

Shares of NYSE OEC opened at $18.10 on Friday. Orion S.A. has a 52-week low of $15.54 and a 52-week high of $28.48. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.23 and a beta of 1.53. The stock has a 50 day moving average price of $20.99 and a 200 day moving average price of $22.80. 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 issued its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.18). The firm had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $491.14 million. Orion had a return on equity of 19.21% and a net margin of 4.09%. Orion’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Sell-side analysts expect that Orion S.A. will post 1.85 earnings per share for the current year.

Orion Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, July 1st will be given a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, July 1st. Orion’s dividend payout ratio (DPR) is 5.41%.

Institutional Investors Weigh In On Orion

Several large investors have recently modified their holdings of the business. Aristides Capital LLC purchased a new position in Orion during the second quarter valued at approximately $226,000. Point72 Asset Management L.P. boosted its position in Orion by 88.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,600 shares of the specialty chemicals company’s stock valued at $145,000 after acquiring an additional 3,100 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of Orion in the 2nd quarter worth $639,000. Quarry LP raised its position in shares of Orion by 76.9% in the 2nd quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock worth $105,000 after acquiring an additional 2,076 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Orion during the second quarter valued at about $253,000. Institutional investors own 94.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Mizuho boosted their target price on shares of Orion from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, StockNews.com downgraded shares of Orion from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

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.