Dynamic Technology Lab Private Ltd Increases Stake in Orion S.A. (NYSE:OEC)

Dynamic Technology Lab Private Ltd increased its holdings in Orion S.A. (NYSE:OEC) by 16.0% during the third quarter, Holdings Channel.com reports. The firm owned 45,559 shares of the specialty chemicals company’s stock after acquiring an additional 6,268 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Orion were worth $811,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pzena Investment Management LLC grew its stake in shares of Orion by 35.4% during the third quarter. Pzena Investment Management LLC now owns 3,647,985 shares of the specialty chemicals company’s stock valued at $64,971,000 after buying an additional 954,398 shares during the last quarter. Foundry Partners LLC purchased a new position in Orion in the 3rd quarter worth approximately $4,620,000. American Century Companies Inc. lifted its position in Orion by 18.6% in the second quarter. American Century Companies Inc. now owns 1,347,138 shares of the specialty chemicals company’s stock valued at $29,556,000 after purchasing an additional 210,990 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Orion by 20.2% during the third quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company’s stock valued at $21,001,000 after purchasing an additional 198,182 shares during the period. Finally, SIR Capital Management L.P. bought a new position in shares of Orion in the second quarter worth approximately $3,992,000. 94.33% of the stock is owned by institutional investors.

Orion Stock Performance

NYSE:OEC opened at $18.39 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 1.42. The firm’s fifty day simple moving average is $16.86 and its 200 day simple moving average is $19.72. The stock has a market cap of $1.06 billion, a P/E ratio of 34.70 and a beta of 1.48. Orion S.A. has a twelve month low of $14.94 and a twelve month high of $28.48.

Orion (NYSE:OEC) last announced its 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 net margin of 1.67% and a return on equity of 18.97%. The company had revenue of $463.40 million for the quarter, compared to the consensus estimate of $489.01 million. As a group, research analysts predict that Orion S.A. will post 1.68 EPS for the current year.

Orion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, December 13th will be paid a dividend of $0.021 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.46%. This is a positive change from Orion’s previous quarterly dividend of $0.02. Orion’s payout ratio is presently 15.09%.

Analyst Upgrades and Downgrades

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

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.