Minneapolis Portfolio Management Group LLC Reduces Position in Orion S.A. (NYSE:OEC)

Minneapolis Portfolio Management Group LLC decreased its holdings in Orion S.A. (NYSE:OEC) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,602,541 shares of the specialty chemicals company’s stock after selling 28,588 shares during the period. Orion makes up 3.7% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 12th largest position. Minneapolis Portfolio Management Group LLC’s holdings in Orion were worth $28,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its holdings in Orion by 24.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 42,163 shares of the specialty chemicals company’s stock worth $751,000 after buying an additional 8,321 shares during the period. Roubaix Capital LLC boosted its holdings in shares of Orion by 68.2% in the third quarter. Roubaix Capital LLC now owns 308,303 shares of the specialty chemicals company’s stock worth $5,491,000 after acquiring an additional 124,986 shares during the period. Jade Capital Advisors LLC grew its position in shares of Orion by 4.3% in the third quarter. Jade Capital Advisors LLC now owns 243,041 shares of the specialty chemicals company’s stock valued at $4,329,000 after purchasing an additional 10,000 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Orion during the 3rd quarter valued at $69,000. Finally, Creative Planning purchased a new stake in Orion during the 3rd quarter worth about $490,000. Institutional investors own 94.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OEC shares. StockNews.com lowered Orion from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective on shares of Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th.

Orion Price Performance

NYSE:OEC traded up $0.41 during trading hours on Friday, hitting $15.40. 374,670 shares of the company’s stock traded hands, compared to its average volume of 419,720. Orion S.A. has a 52 week low of $14.94 and a 52 week high of $28.48. The business’s fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $20.56. 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 firm has a market cap of $898.74 million, a P/E ratio of 11.67 and a beta of 1.48.

Orion (NYSE:OEC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share 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 business had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $491.14 million. During the same period in the previous year, the business earned $0.53 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Orion S.A. will post 1.85 earnings per share for the current fiscal year.

Orion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, December 13th will be paid a $0.021 dividend. 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 yield of 0.55%. The ex-dividend date of this dividend is Friday, December 13th. Orion’s dividend payout ratio (DPR) is currently 6.06%.

Insider Buying and Selling at Orion

In related news, CFO Jeffrey Glajch purchased 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $18.16 per share, with a total value of $272,400.00. Following the purchase, the chief financial officer now directly owns 101,855 shares in the company, valued at approximately $1,849,686.80. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Corning F. Painter acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $17.48 per share, with a total value of $349,600.00. Following the acquisition, the chief executive officer now owns 948,776 shares in the company, valued at approximately $16,584,604.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Glajch bought 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was purchased 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 $1,849,686.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 47,500 shares of company stock worth $845,225 over the last three months. 2.20% of the stock is owned by 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.