MYDA Advisors LLC Acquires 12,000 Shares of Orion S.A. $OEC

MYDA Advisors LLC raised its stake in Orion S.A. (NYSE:OEC) by 30.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,000 shares of the specialty chemicals company’s stock after purchasing an additional 12,000 shares during the period. MYDA Advisors LLC owned 0.09% of Orion worth $659,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OEC. Exchange Traded Concepts LLC increased its position in Orion by 1,256.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,007 shares of the specialty chemicals company’s stock worth $78,000 after buying an additional 5,564 shares during the period. CWM LLC grew its position in Orion by 831.7% during the first quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company’s stock worth $86,000 after buying an additional 5,947 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Orion during the 4th quarter worth $159,000. Virtu Financial LLC acquired a new position in Orion in the 1st quarter valued at $177,000. Finally, Freestone Grove Partners LP acquired a new position in Orion in the 4th quarter valued at $211,000. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Stock Down 0.8%

Shares of Orion stock opened at $10.40 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.10 and a quick ratio of 0.64. Orion S.A. has a one year low of $9.03 and a one year high of $19.48. The stock’s 50-day moving average is $10.58 and its 200 day moving average is $11.73. The firm has a market cap of $583.68 million, a price-to-earnings ratio of 38.50 and a beta of 1.10.

Orion (NYSE:OEC) last issued its earnings results on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Orion had a return on equity of 16.67% and a net margin of 0.82%.The company had revenue of $466.40 million for the quarter, compared to the consensus estimate of $475.77 million. During the same period in the prior year, the company earned $0.41 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Orion S.A. will post 1.73 EPS for the current year.

Orion Dividend Announcement

The company also recently declared a interim dividend, which will be paid on Wednesday, October 8th. Investors of record on Monday, July 7th will be paid a dividend of $0.0207 per share. This represents a yield of 80.0%. The ex-dividend date of this dividend is Monday, July 7th. Orion’s dividend payout ratio is 29.63%.

Wall Street Analyst Weigh In

OEC has been the topic of several analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating and set a $9.00 target price (down from $10.00) on shares of Orion in a report on Monday, August 11th. Zacks Research upgraded shares of Orion to a “strong sell” rating in a research note on Tuesday, August 12th. UBS Group dropped their target price on shares of Orion from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Mizuho cut their price target on shares of Orion from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $12.00.

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.