Renaissance Technologies LLC Trims Stock Holdings in Orion S.A. (NYSE:OEC)

Renaissance Technologies LLC trimmed its holdings in Orion S.A. (NYSE:OEC) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 740,796 shares of the specialty chemicals company’s stock after selling 28,405 shares during the quarter. Renaissance Technologies LLC owned approximately 1.27% of Orion worth $16,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OEC. Dimensional Fund Advisors LP raised its holdings in shares of Orion by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,261 shares of the specialty chemicals company’s stock worth $47,954,000 after buying an additional 76,480 shares during the period. Chesapeake Capital Corp IL purchased a new stake in shares of Orion in the fourth quarter worth approximately $933,000. Isthmus Partners LLC raised its holdings in shares of Orion by 2.4% in the fourth quarter. Isthmus Partners LLC now owns 113,541 shares of the specialty chemicals company’s stock worth $3,148,000 after buying an additional 2,624 shares during the period. Jade Capital Advisors LLC raised its holdings in shares of Orion by 420.4% in the fourth quarter. Jade Capital Advisors LLC now owns 328,041 shares of the specialty chemicals company’s stock worth $9,097,000 after buying an additional 265,000 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in shares of Orion in the fourth quarter worth approximately $17,174,000. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Orion

In related news, CFO Jeffrey Glajch bought 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $18.16 per share, with a total value of $272,400.00. Following the transaction, the chief financial officer now owns 101,855 shares of the company’s stock, valued at $1,849,686.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Orion news, CFO Jeffrey Glajch purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $18.16 per share, for a total transaction of $272,400.00. Following the completion of the purchase, the chief financial officer now owns 101,855 shares of the company’s stock, valued at $1,849,686.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Corning F. Painter acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $17.48 per share, for a total transaction of $349,600.00. Following the acquisition, the chief executive officer now 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 90 days, insiders have purchased 47,500 shares of company stock valued at $845,225. 6.30% of the stock is currently owned by corporate insiders.

Orion Stock Down 2.3 %

Shares of NYSE:OEC opened at $16.65 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The stock has a market cap of $970.83 million, a P/E ratio of 11.25 and a beta of 1.47. The business’s 50 day moving average is $19.12 and its 200 day moving average is $22.00. Orion S.A. has a 52-week low of $15.54 and a 52-week high of $28.48.

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

Orion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Friday, December 13th will be given a dividend of $0.021 per share. This represents a $0.08 annualized dividend and a yield of 0.50%. The ex-dividend date is Friday, December 13th. This is a boost from Orion’s previous quarterly dividend of $0.02. Orion’s dividend payout ratio (DPR) is 5.41%.

Analyst Ratings Changes

Several research analysts recently issued reports on OEC shares. JPMorgan Chase & Co. dropped their price objective on Orion from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com cut 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.