Orion S.A. (NYSE:OEC) Shares Acquired by Harvey Partners LLC

Harvey Partners LLC grew its position in Orion S.A. (NYSE:OEC) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,696,000 shares of the specialty chemicals company’s stock after purchasing an additional 146,500 shares during the period. Orion makes up approximately 3.4% of Harvey Partners LLC’s investment portfolio, making the stock its 12th largest holding. Harvey Partners LLC owned 2.94% of Orion worth $30,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC increased its holdings in Orion by 207.0% in the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 1,412 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Orion during the 2nd quarter valued at $54,000. nVerses Capital LLC purchased a new position in shares of Orion during the third quarter worth about $69,000. Quarry LP grew its holdings in Orion by 76.9% in 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. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Orion in the 2nd quarter valued at $140,000. Institutional investors own 94.33% of the company’s stock.

Analysts Set New Price Targets

OEC has been the topic of several recent research reports. JPMorgan Chase & Co. raised shares of Orion from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $21.00 in a research report on Monday, November 11th. StockNews.com lowered shares of Orion from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th.

Orion Price Performance

Orion stock opened at $19.30 on Tuesday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 36.41 and a beta of 1.51. 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 stock’s 50 day moving average price is $16.99 and its two-hundred day moving average price is $19.54.

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

Orion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.021 per share. The ex-dividend date is Friday, December 13th. This is an increase from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 annualized dividend and a yield of 0.44%. Orion’s payout ratio is presently 15.09%.

About Orion

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.