Orion S.A. (NYSE:OEC) Short Interest Update

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

Orion Stock Performance

Orion stock opened at $12.96 on Monday. The company has a market capitalization of $734.01 million, a price-to-earnings ratio of 17.27 and a beta of 1.52. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.24 and a quick ratio of 0.71. The firm’s fifty day moving average price is $13.99 and its 200 day moving average price is $15.71. Orion has a 12-month low of $12.51 and a 12-month high of $26.05.

Orion (NYSE:OEC) last announced its quarterly earnings data on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $434.20 million during the quarter, compared to the consensus estimate of $437.03 million. Orion had a net margin of 2.35% and a return on equity of 20.94%. On average, research analysts forecast that Orion will post 1.73 EPS for the current fiscal year.

Orion Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 13th will be issued a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, March 13th. Orion’s payout ratio is currently 10.67%.

Insider Buying and Selling

In other news, VP Carlos Quinones purchased 3,300 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $13.07 per share, with a total value of $43,131.00. Following the purchase, the vice president now directly owns 79,702 shares of the company’s stock, valued at $1,041,705.14. This represents a 4.32 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Orion

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

Analyst Ratings Changes

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

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.