Orion S.A. (NYSE:OEC) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in shares of Orion S.A. (NYSE:OEC) by 48.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 577,152 shares of the specialty chemicals company’s stock after selling 552,628 shares during the period. Millennium Management LLC owned approximately 0.99% of Orion worth $12,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC boosted its position in shares of Orion by 207.0% in the 2nd quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 1,412 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Orion in the 2nd quarter valued at $54,000. Lazard Asset Management LLC boosted its position in shares of Orion by 1,375.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock valued at $89,000 after purchasing an additional 3,534 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Orion in the 2nd quarter valued at $140,000. Finally, MQS Management LLC acquired 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.

Orion Stock Up 1.1 %

OEC opened at $17.04 on Tuesday. Orion S.A. has a fifty-two week low of $15.54 and a fifty-two week high of $28.48. The business has a 50-day moving average of $17.83 and a 200-day moving average of $21.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.80. The company has a market capitalization of $994.45 million, a PE ratio of 11.51 and a beta of 1.46.

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 firm had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $491.14 million. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts forecast that Orion S.A. will post 1.85 EPS for the current fiscal year.

Orion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders 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 an increase from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.49%. Orion’s dividend payout ratio (DPR) is 5.41%.

Analysts Set New Price Targets

OEC has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com lowered Orion from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Insider Transactions at Orion

In related news, CFO Jeffrey Glajch acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $18.16 per share, with a total value of $272,400.00. Following the purchase, the chief financial officer now owns 101,855 shares of the company’s stock, valued at approximately $1,849,686.80. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Corning F. Painter acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $17.48 per share, with a total value of $349,600.00. Following the purchase, the chief executive officer now owns 948,776 shares of the company’s stock, valued at approximately $16,584,604.48. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Glajch acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $18.16 per share, for a total transaction of $272,400.00. Following the completion of the purchase, the chief financial officer now directly owns 101,855 shares in the company, valued at $1,849,686.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 47,500 shares of company stock valued at $845,225 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Orion 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.