Victory Capital Management Inc. grew its holdings in shares of Orion S.A. (NYSE:OEC – Free Report) by 113.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,848 shares of the specialty chemicals company’s stock after buying an additional 19,608 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Orion worth $782,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OEC. Arizona State Retirement System raised its holdings in shares of Orion by 2.7% in the 1st quarter. Arizona State Retirement System now owns 17,621 shares of the specialty chemicals company’s stock valued at $460,000 after purchasing an additional 463 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Orion by 2.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,461 shares of the specialty chemicals company’s stock valued at $690,000 after purchasing an additional 621 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Orion by 101.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,267 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 637 shares during the period. Isthmus Partners LLC raised its holdings in shares of Orion by 0.6% in the 1st quarter. Isthmus Partners LLC now owns 112,796 shares of the specialty chemicals company’s stock valued at $2,943,000 after purchasing an additional 657 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Orion by 12.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,947 shares of the specialty chemicals company’s stock valued at $126,000 after purchasing an additional 658 shares during the period. 89.94% of the stock is owned by institutional investors.
Insider Transactions at Orion
In other news, CEO Corning F. Painter purchased 15,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $21.59 per share, with a total value of $323,850.00. Following the acquisition, the chief executive officer now owns 771,708 shares in the company, valued at approximately $16,661,175.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by insiders.
Orion Stock Performance
Orion (NYSE:OEC – Get Free Report) last announced its earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). Orion had a return on equity of 27.96% and a net margin of 5.92%. The business had revenue of $458.80 million for the quarter, compared to analyst estimates of $501.83 million. During the same quarter in the previous year, the company earned $0.58 EPS. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts predict that Orion S.A. will post 2.2 earnings per share for the current year.
Orion Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.021 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Thursday, December 14th. Orion’s dividend payout ratio (DPR) is presently 4.15%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Orion in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Credit Suisse Group decreased their price target on shares of Orion from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, August 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Orion from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, August 11th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.50.
Orion Profile
Orion SA, together with its subsidiaries, manufactures and sells 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 polymers, coatings, and battery electrodes.
Featured Articles
- Five stocks we like better than Orion
- The How And Why of Investing in Oil Stocks
- First Solar, an affordable, high-quality green investment
- Mega Cap Stocks: What They Are and How to Invest
- 5 Dow stocks to track during the market correction
- What Are Growth Stocks and Investing in Them
- Lean on these stocks during GDP expansion
Want to see what other hedge funds are holding OEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Orion S.A. (NYSE:OEC – Free Report).
Receive News & Ratings for Orion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion and related companies with MarketBeat.com's FREE daily email newsletter.
