Orion S.A. (NYSE:OEC) Shares Bought by Denali Advisors LLC

Denali Advisors LLC lifted its position in shares of Orion S.A. (NYSE:OEC) by 100.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,700 shares of the specialty chemicals company’s stock after purchasing an additional 16,400 shares during the period. Denali Advisors LLC owned about 0.06% of Orion worth $717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Orion by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,706 shares of the specialty chemicals company’s stock worth $41,197,000 after buying an additional 80,266 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Orion by 42.9% in the second quarter. Diamond Hill Capital Management Inc. now owns 87,049 shares of the specialty chemicals company’s stock valued at $1,910,000 after purchasing an additional 26,132 shares during the last quarter. William Blair Investment Management LLC grew its stake in Orion by 3.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,724,139 shares of the specialty chemicals company’s stock valued at $59,768,000 after purchasing an additional 99,613 shares in the last quarter. Federated Hermes Inc. increased its holdings in Orion by 15.4% during the 2nd quarter. Federated Hermes Inc. now owns 57,543 shares of the specialty chemicals company’s stock worth $1,262,000 after purchasing an additional 7,663 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Orion in the 2nd quarter valued at approximately $54,000. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Dan F. Smith purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $18.53 per share, with a total value of $46,325.00. Following the acquisition, the director now owns 78,772 shares in the company, valued at approximately $1,459,645.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Dan F. Smith acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $18.53 per share, with a total value of $46,325.00. Following the acquisition, the director now directly owns 78,772 shares in the company, valued at $1,459,645.16. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Glajch acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $18.16 per share, for a total transaction of $272,400.00. Following the completion of the transaction, the chief financial officer now owns 101,855 shares in the company, valued at $1,849,686.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 47,500 shares of company stock valued at $845,225. 6.30% of the stock is currently owned by insiders.

Orion Price Performance

Shares of NYSE OEC opened at $17.20 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.80 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 11.62 and a beta of 1.47. Orion S.A. has a twelve month low of $15.54 and a twelve month high of $28.48. The business has a 50 day simple moving average of $19.42 and a 200-day simple moving average of $22.11.

Orion (NYSE:OEC) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share 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 business had revenue of $477.00 million for the quarter, compared to the consensus estimate of $491.14 million. During the same quarter in the previous year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that Orion S.A. will post 1.85 earnings per share for the current year.

Orion Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, July 1st will be paid a $0.0207 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.08 dividend on an annualized basis and a yield of 0.48%. Orion’s payout ratio is currently 5.41%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OEC shares. 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. dropped their target price on shares of Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th.

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.