Wealthedge Investment Advisors LLC Invests $575,000 in Orion S.A. $OEC

Wealthedge Investment Advisors LLC acquired a new position in Orion S.A. (NYSE:OEC) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 54,802 shares of the specialty chemicals company’s stock, valued at approximately $575,000. Wealthedge Investment Advisors LLC owned approximately 0.10% of Orion as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in OEC. Pzena Investment Management LLC raised its position in Orion by 37.5% during the second quarter. Pzena Investment Management LLC now owns 4,577,197 shares of the specialty chemicals company’s stock worth $48,015,000 after acquiring an additional 1,248,295 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Orion during the 1st quarter worth approximately $4,019,000. CSM Advisors LLC purchased a new stake in Orion in the 2nd quarter valued at approximately $2,743,000. Invenomic Capital Management LP acquired a new stake in Orion during the 1st quarter valued at $3,125,000. Finally, Nuveen LLC purchased a new position in Orion during the first quarter worth $2,723,000. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Orion Price Performance

Shares of NYSE:OEC opened at $5.08 on Monday. The company has a market cap of $285.24 million, a P/E ratio of -8.76 and a beta of 1.10. The business has a fifty day simple moving average of $5.89 and a 200-day simple moving average of $8.92. Orion S.A. has a 52 week low of $4.34 and a 52 week high of $19.48. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 1.69.

Orion (NYSE:OEC) last issued its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $450.90 million during the quarter, compared to analyst estimates of $453.45 million. Orion had a positive return on equity of 14.90% and a negative net margin of 1.74%.The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. Equities research analysts forecast that Orion S.A. will post 1.73 EPS for the current year.

Orion Announces Dividend

The business also recently announced a interim dividend, which will be paid on Tuesday, January 20th. Investors of record on Friday, December 12th will be given a $0.0207 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a dividend yield of 80.0%. Orion’s dividend payout ratio (DPR) is currently -13.79%.

Analysts Set New Price Targets

OEC has been the subject of a number of analyst reports. Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Mizuho set a $6.00 price objective on Orion in a research report on Monday, October 20th. JPMorgan Chase & Co. cut their target price on shares of Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research note on Wednesday, October 8th. Finally, UBS Group downgraded shares of Orion from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $12.00 to $7.00 in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average target price of $6.00.

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.