Kennedy Capital Management LLC Cuts Position in Orion S.A. (NYSE:OEC)

Kennedy Capital Management LLC cut its holdings in Orion S.A. (NYSE:OEC) by 8.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,601 shares of the specialty chemicals company’s stock after selling 32,793 shares during the period. Kennedy Capital Management LLC owned about 0.58% of Orion worth $7,893,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in OEC. Vanguard Group Inc. grew its stake in shares of Orion by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,618,627 shares of the specialty chemicals company’s stock valued at $34,444,000 after buying an additional 89,319 shares during the period. HBK Sorce Advisory LLC acquired a new stake in shares of Orion in the fourth quarter worth $247,000. Mutual of America Capital Management LLC lifted its stake in shares of Orion by 9.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 138,930 shares of the specialty chemicals company’s stock worth $3,853,000 after purchasing an additional 12,140 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Orion in the fourth quarter valued at $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Orion by 28.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,625 shares of the specialty chemicals company’s stock valued at $406,000 after purchasing an additional 3,213 shares in the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Price Performance

Shares of OEC stock remained flat at $24.16 on Wednesday. The company had a trading volume of 23,714 shares, compared to its average volume of 375,346. The company has a market cap of $1.41 billion, a P/E ratio of 16.32 and a beta of 1.53. The stock’s fifty day moving average is $23.16 and its two-hundred day moving average is $23.38. The company has a quick ratio of 0.85, a current ratio of 1.45 and a debt-to-equity ratio of 1.36. Orion S.A. has a twelve month low of $19.32 and a twelve month high of $28.48.

Orion (NYSE:OEC) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.11). Orion had a net margin of 4.64% and a return on equity of 21.07%. The company had revenue of $502.90 million for the quarter, compared to the consensus estimate of $506.38 million. During the same period last year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts expect that Orion S.A. will post 2.13 EPS for the current year.

Orion Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, July 1st will be issued a $0.0207 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.34%. Orion’s payout ratio is currently 5.41%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded Orion from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Mizuho raised their price objective on Orion from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Orion has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.

Insider Activity at Orion

In related news, VP Carlos Quinones purchased 4,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were bought at an average price of $23.51 per share, with a total value of $94,040.00. Following the completion of the acquisition, the vice president now owns 69,702 shares of the company’s stock, valued at $1,638,694.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Jeffrey Glajch purchased 5,000 shares of the stock in a transaction on Friday, June 7th. The shares were bought at an average price of $23.68 per share, for a total transaction of $118,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 77,061 shares in the company, valued at approximately $1,824,804.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Carlos Quinones acquired 4,000 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $23.51 per share, for a total transaction of $94,040.00. Following the completion of the transaction, the vice president now owns 69,702 shares of the company’s stock, valued at approximately $1,638,694.02. The disclosure for this purchase can be found here. Company 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.