Quarry LP Has $105,000 Stock Position in Orion S.A. (NYSE:OEC)

Quarry LP raised its position in Orion S.A. (NYSE:OEC) by 76.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 4,776 shares of the specialty chemicals company’s stock after purchasing an additional 2,076 shares during the quarter. Quarry LP’s holdings in Orion were worth $105,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CWM LLC grew its position in Orion by 207.0% during the 2nd quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 1,412 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Orion in the second quarter valued at $54,000. Lazard Asset Management LLC raised its holdings in shares of Orion by 1,375.1% in the first quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock valued at $89,000 after buying an additional 3,534 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Orion during the 2nd quarter worth about $140,000. Finally, MQS Management LLC bought a new stake in Orion during the 1st quarter worth about $221,000. Institutional investors and hedge funds own 94.33% of the company’s stock.

Insider Activity at Orion

In related news, CEO Corning F. Painter bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $17.48 per share, for a total transaction of $349,600.00. Following the transaction, the chief executive officer now owns 948,776 shares of the company’s stock, valued at $16,584,604.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Orion news, Director Dan F. Smith acquired 2,500 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now owns 78,772 shares of the company’s stock, valued at approximately $1,459,645.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Corning F. Painter bought 20,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $17.48 per share, with a total value of $349,600.00. Following the completion of the purchase, the chief executive officer now owns 948,776 shares of the company’s stock, valued at approximately $16,584,604.48. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 47,500 shares of company stock worth $845,225. 6.30% of the stock is owned by insiders.

Orion Stock Performance

Shares of NYSE:OEC opened at $17.34 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.80 and a debt-to-equity ratio of 1.31. Orion S.A. has a 1-year low of $15.54 and a 1-year high of $28.48. The stock has a market capitalization of $1.01 billion, a P/E ratio of 11.72 and a beta of 1.47. The business has a 50-day moving average price of $18.25 and a two-hundred day moving average price of $21.74.

Orion (NYSE:OEC) last posted its quarterly earnings results 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). Orion had a return on equity of 19.21% and a net margin of 4.09%. The business had revenue of $477.00 million for the quarter, compared to the consensus estimate of $491.14 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts predict that Orion S.A. will post 1.85 earnings per share for the current year.

Orion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, December 13th will be paid a dividend of $0.021 per share. The ex-dividend date is Friday, December 13th. This is a boost from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.48%. Orion’s payout ratio is 5.41%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OEC shares. JPMorgan Chase & Co. dropped their target price 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 Orion from a “buy” rating to a “hold” rating in a report on Wednesday.

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.