Oppenheimer & Co. Inc. Sells 2,450 Shares of Orion S.A. (NYSE:OEC)

Oppenheimer & Co. Inc. reduced its position in shares of Orion S.A. (NYSE:OEC) by 8.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,100 shares of the specialty chemicals company’s stock after selling 2,450 shares during the period. Oppenheimer & Co. Inc.’s holdings in Orion were worth $396,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its holdings in Orion by 35.4% during the 3rd quarter. Pzena Investment Management LLC now owns 3,647,985 shares of the specialty chemicals company’s stock valued at $64,971,000 after purchasing an additional 954,398 shares during the last quarter. Harvey Partners LLC lifted its holdings in Orion by 9.5% during the 3rd quarter. Harvey Partners LLC now owns 1,696,000 shares of the specialty chemicals company’s stock valued at $30,206,000 after purchasing an additional 146,500 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Orion by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,301,158 shares of the specialty chemicals company’s stock valued at $23,178,000 after purchasing an additional 5,378 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Orion by 20.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company’s stock valued at $21,001,000 after purchasing an additional 198,182 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Orion by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 875,275 shares of the specialty chemicals company’s stock valued at $15,589,000 after purchasing an additional 34,183 shares during the last quarter. 94.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OEC shares. JPMorgan Chase & Co. cut their price target on shares of Orion from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, February 21st. UBS Group lowered their price objective on shares of Orion from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 20th.

Orion Trading Down 1.0 %

OEC opened at $13.81 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $782.22 million, a PE ratio of 18.41 and a beta of 1.50. Orion S.A. has a 1-year low of $12.56 and a 1-year high of $26.05. The firm has a 50-day moving average price of $14.50 and a two-hundred day moving average price of $16.17.

Orion (NYSE:OEC) last posted its quarterly earnings data on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. Orion had a net margin of 2.35% and a return on equity of 20.94%. The firm had revenue of $434.20 million during the quarter, compared to analysts’ expectations of $437.03 million. As a group, equities analysts anticipate that Orion S.A. will post 1.73 earnings per share for the current fiscal year.

Orion Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, March 13th. Orion’s dividend payout ratio is 10.67%.

About Orion

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.