Pzena Investment Management LLC Acquires 954,398 Shares of Orion S.A. (NYSE:OEC)

Pzena Investment Management LLC raised its holdings in Orion S.A. (NYSE:OEC) by 35.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,647,985 shares of the specialty chemicals company’s stock after purchasing an additional 954,398 shares during the quarter. Pzena Investment Management LLC owned approximately 6.25% of Orion worth $64,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC raised its position in shares of Orion by 207.0% during the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 1,412 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Orion during the second quarter worth approximately $54,000. Lazard Asset Management LLC increased its holdings in Orion by 1,375.1% in the first quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock valued at $89,000 after purchasing an additional 3,534 shares during the last quarter. nVerses Capital LLC acquired a new stake in Orion in the third quarter worth $69,000. Finally, Quarry LP boosted its position in shares of Orion by 76.9% during the second quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock worth $105,000 after purchasing an additional 2,076 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.

Orion Stock Performance

Shares of OEC stock traded down $0.17 during midday trading on Wednesday, hitting $17.77. 29,820 shares of the company were exchanged, compared to its average volume of 448,097. The firm has a market capitalization of $1.03 billion, a P/E ratio of 33.84 and a beta of 1.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.71 and a current ratio of 1.24. Orion S.A. has a 52 week low of $14.94 and a 52 week high of $28.48. The firm’s 50 day moving average price is $16.69 and its two-hundred day moving average price is $19.95.

Orion (NYSE:OEC) last posted its earnings results on Thursday, November 7th. The specialty chemicals company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.06). The firm had revenue of $463.40 million during the quarter, compared to analyst estimates of $489.01 million. Orion had a net margin of 1.67% and a return on equity of 18.97%. As a group, equities research analysts anticipate that Orion S.A. will post 1.68 earnings per share for the current year.

Orion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Friday, December 13th will be paid a $0.021 dividend. This is a boost from Orion’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.47%. Orion’s dividend payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OEC. StockNews.com downgraded Orion from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded Orion from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $21.00 in a research report on Monday, November 11th.

Insider Buying and Selling

In other Orion news, CEO Corning F. Painter purchased 10,000 shares of Orion stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $17.69 per share, with a total value of $176,900.00. Following the transaction, the chief executive officer now owns 958,776 shares in the company, valued at $16,960,747.44. This trade represents a 1.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.

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.