Orion (NYSE:OEC) Sees Large Volume Increase

Orion S.A. (NYSE:OEC) shares saw an uptick in trading volume on Thursday . 591,025 shares were traded during mid-day trading, an increase of 40% from the previous session’s volume of 421,435 shares.The stock last traded at $17.64 and had previously closed at $17.80.

Wall Street Analysts Forecast Growth

OEC has been the subject of several recent research reports. StockNews.com lowered shares of Orion from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

Orion Stock Down 2.8 %

The business’s 50 day simple moving average is $20.08 and its 200 day simple moving average is $22.43. The company has a market capitalization of $965.27 million, a PE ratio of 11.18 and a beta of 1.47. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 1.31.

Orion (NYSE:OEC) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.18). Orion had a net margin of 4.09% and a return on equity of 19.21%. The firm had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $491.14 million. During the same quarter last year, the company posted $0.53 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts forecast that Orion S.A. will post 1.85 EPS for the current year.

Orion Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, July 1st will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, July 1st. Orion’s payout ratio is 5.41%.

Insider Buying and Selling

In other Orion news, Director Dan F. Smith bought 2,500 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average price of $18.53 per share, with a total value of $46,325.00. Following the purchase, the director now directly owns 78,772 shares in the company, valued at approximately $1,459,645.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Carlos Quinones purchased 4,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $23.51 per share, with a total value of $94,040.00. Following the completion of the purchase, the vice president now owns 69,702 shares of the company’s stock, valued at approximately $1,638,694.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dan F. Smith acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $18.53 per share, with a total value of $46,325.00. Following the completion of the acquisition, the director now owns 78,772 shares of the company’s stock, valued at approximately $1,459,645.16. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 51,500 shares of company stock valued at $939,265. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CWM LLC raised its holdings in Orion by 207.0% during the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 1,412 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Orion in the 2nd quarter valued at approximately $54,000. Lazard Asset Management LLC lifted its holdings in Orion by 1,375.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock worth $89,000 after purchasing an additional 3,534 shares during the last quarter. Mendota Financial Group LLC bought a new stake in Orion during the first quarter worth approximately $104,000. Finally, Quarry LP grew its holdings in Orion by 76.9% during the second quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock valued at $105,000 after purchasing an additional 2,076 shares during the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.

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.