Harspring Capital Management LLC Has $3.47 Million Position in Orion S.A. (NYSE:OEC)

Harspring Capital Management LLC lessened its holdings in shares of Orion S.A. (NYSE:OEC) by 61.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 220,000 shares of the specialty chemicals company’s stock after selling 345,000 shares during the period. Orion makes up approximately 1.0% of Harspring Capital Management LLC’s holdings, making the stock its 16th largest position. Harspring Capital Management LLC’s holdings in Orion were worth $3,474,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its position in Orion by 148.2% in the 3rd quarter. Jane Street Group LLC now owns 151,205 shares of the specialty chemicals company’s stock worth $2,693,000 after purchasing an additional 90,292 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Orion in the third quarter valued at about $415,000. Public Employees Retirement System of Ohio acquired a new stake in Orion during the third quarter worth about $27,000. Barclays PLC increased its stake in Orion by 320.4% during the third quarter. Barclays PLC now owns 95,512 shares of the specialty chemicals company’s stock valued at $1,700,000 after acquiring an additional 72,793 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Orion by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,301,158 shares of the specialty chemicals company’s stock valued at $23,178,000 after acquiring an additional 5,378 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.

Insiders Place Their Bets

In related news, VP Carlos Quinones purchased 3,300 shares of Orion stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $13.07 per share, for a total transaction of $43,131.00. Following the transaction, the vice president now directly owns 79,702 shares in the company, valued at approximately $1,041,705.14. This represents a 4.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on OEC shares. UBS Group decreased their price objective on Orion from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on Orion from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, February 21st.

Orion Stock Performance

NYSE:OEC opened at $11.74 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $13.32 and a 200 day moving average price of $15.26. The firm has a market capitalization of $665.12 million, a PE ratio of 15.65 and a beta of 1.25. Orion S.A. has a 12-month low of $10.50 and a 12-month high of $26.05.

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

Orion Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 13th were paid a $0.0207 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, March 13th. Orion’s dividend payout ratio is currently 10.67%.

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.