Chesapeake Capital Corp IL Makes New Investment in Orion S.A. (NYSE:OEC)

Chesapeake Capital Corp IL acquired a new position in shares of Orion S.A. (NYSE:OEC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 33,663 shares of the specialty chemicals company’s stock, valued at approximately $933,000.

Several other hedge funds have also made changes to their positions in OEC. Allspring Global Investments Holdings LLC boosted its stake in shares of Orion by 91.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,375 shares of the specialty chemicals company’s stock worth $242,000 after buying an additional 5,428 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Orion by 28.3% during the third quarter. Victory Capital Management Inc. now owns 47,261 shares of the specialty chemicals company’s stock worth $1,006,000 after buying an additional 10,413 shares during the period. Arizona State Retirement System boosted its stake in shares of Orion by 4.7% during the third quarter. Arizona State Retirement System now owns 16,761 shares of the specialty chemicals company’s stock worth $357,000 after buying an additional 756 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Orion by 21.8% during the third quarter. New York State Common Retirement Fund now owns 24,832 shares of the specialty chemicals company’s stock worth $528,000 after buying an additional 4,445 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Orion by 2.9% during the third quarter. Thompson Siegel & Walmsley LLC now owns 247,391 shares of the specialty chemicals company’s stock worth $5,264,000 after buying an additional 6,946 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.

Orion Stock Performance

NYSE:OEC traded up $0.12 during mid-day trading on Friday, reaching $24.52. The stock had a trading volume of 180,460 shares, compared to its average volume of 396,501. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.85 and a current ratio of 1.45. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 16.57 and a beta of 1.62. Orion S.A. has a twelve month low of $19.32 and a twelve month high of $28.48. The business has a 50 day simple moving average of $24.19 and a 200 day simple moving average of $24.01.

Orion (NYSE:OEC) last announced its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.11). The firm had revenue of $502.90 million during the quarter, compared to analyst estimates of $506.38 million. Orion had a net margin of 4.64% and a return on equity of 21.07%. Orion’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. On average, analysts expect that Orion S.A. will post 2.13 earnings per share for the current fiscal year.

Orion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be given a dividend of $0.021 per share. The ex-dividend date is Tuesday, June 11th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.34%. Orion’s payout ratio is 5.41%.

Analyst Ratings Changes

Several brokerages have recently weighed in on OEC. Mizuho increased their target price on shares of Orion from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. StockNews.com upgraded shares of Orion from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.00.

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.