Mutual of America Capital Management LLC Acquires 53,559 Shares of Orion S.A. (NYSE:OEC)

Mutual of America Capital Management LLC lifted its holdings in shares of Orion S.A. (NYSE:OEC) by 19.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 324,391 shares of the specialty chemicals company’s stock after acquiring an additional 53,559 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.56% of Orion worth $7,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its holdings in Orion by 1.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 29,600 shares of the specialty chemicals company’s stock valued at $696,000 after purchasing an additional 550 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Orion by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 34,371 shares of the specialty chemicals company’s stock valued at $754,000 after purchasing an additional 625 shares during the period. ProShare Advisors LLC lifted its stake in shares of Orion by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 9,956 shares of the specialty chemicals company’s stock worth $234,000 after buying an additional 783 shares during the last quarter. Summit Global Investments boosted its holdings in shares of Orion by 1.9% during the 2nd quarter. Summit Global Investments now owns 48,291 shares of the specialty chemicals company’s stock worth $1,060,000 after buying an additional 891 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Orion by 6.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,674 shares of the specialty chemicals company’s stock valued at $476,000 after buying an additional 1,339 shares during the last quarter. 94.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Orion Stock Performance

NYSE OEC opened at $17.05 on Friday. The firm has a 50-day moving average price of $19.23 and a two-hundred day moving average price of $22.04. Orion S.A. has a 12-month low of $15.54 and a 12-month high of $28.48. The company has a market capitalization of $993.86 million, a P/E ratio of 11.52 and a beta of 1.47. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 1.31.

Orion (NYSE:OEC) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.18). Orion had a net margin of 4.09% and a return on equity of 19.21%. The company had revenue of $477.00 million during the quarter, compared to the consensus estimate of $491.14 million. During the same quarter last year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Orion S.A. will post 1.85 earnings per share for the current year.

Insider Transactions at Orion

In other news, CEO Corning F. Painter acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $17.69 per share, with a total value of $176,900.00. Following the completion of the transaction, the chief executive officer now directly owns 958,776 shares of the company’s stock, valued at approximately $16,960,747.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Corning F. Painter acquired 10,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $17.69 per share, for a total transaction of $176,900.00. Following the completion of the transaction, the chief executive officer now directly owns 958,776 shares in the company, valued at $16,960,747.44. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Corning F. Painter bought 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $17.48 per share, with a total value of $349,600.00. Following the completion of the purchase, the chief executive officer now directly owns 948,776 shares of the company’s stock, valued at $16,584,604.48. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 47,500 shares of company stock valued at $845,225. 6.30% of the stock is 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.