Orion S.A. (NYSE:OEC) Sees Significant Drop in Short Interest

Orion S.A. (NYSE:OEC) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 690,100 shares, a decrease of 20.2% from the February 28th total of 865,200 shares. Based on an average daily trading volume, of 533,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.3% of the company’s stock are short sold.

Insider Activity at Orion

In other Orion news, VP Carlos Quinones acquired 3,300 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $13.07 per share, with a total value of $43,131.00. Following the transaction, the vice president now owns 79,702 shares in the company, valued at $1,041,705.14. The trade was a 4.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Orion

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Orion during the third quarter worth $27,000. Point72 DIFC Ltd boosted its position in shares of Orion by 1,578.7% during the 3rd quarter. Point72 DIFC Ltd now owns 4,415 shares of the specialty chemicals company’s stock worth $79,000 after purchasing an additional 4,152 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Orion by 1,112.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,624 shares of the specialty chemicals company’s stock worth $154,000 after purchasing an additional 7,913 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Orion in the 4th quarter valued at about $159,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Orion in the third quarter valued at about $190,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on OEC shares. UBS Group dropped their price target on shares of Orion from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of Orion from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st.

Orion Stock Performance

OEC stock traded down $0.30 on Tuesday, hitting $12.63. The company’s stock had a trading volume of 682,039 shares, compared to its average volume of 491,770. Orion has a 1 year low of $12.51 and a 1 year high of $26.05. 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 cap of $715.77 million, a price-to-earnings ratio of 16.85 and a beta of 1.52. The firm has a 50 day moving average of $13.96 and a two-hundred day moving average of $15.69.

Orion (NYSE:OEC) last issued its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. Orion had a return on equity of 20.94% and a net margin of 2.35%. The firm had revenue of $434.20 million during the quarter, compared to the consensus estimate of $437.03 million. Equities analysts predict that Orion will post 1.73 EPS for the current fiscal year.

Orion Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 yield of 0.66%. The ex-dividend date is Thursday, March 13th. Orion’s 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.