Kimelman & Baird LLC Cuts Stock Holdings in Orion S.A. (NYSE:OEC)

Kimelman & Baird LLC decreased its position in shares of Orion S.A. (NYSE:OEC) by 74.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,500 shares of the specialty chemicals company’s stock after selling 12,785 shares during the quarter. Kimelman & Baird LLC’s holdings in Orion were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in Orion by 35.4% in the third quarter. Pzena Investment Management LLC now owns 3,647,985 shares of the specialty chemicals company’s stock worth $64,971,000 after purchasing an additional 954,398 shares during the last quarter. Harvey Partners LLC boosted its holdings in Orion by 9.5% in the third quarter. Harvey Partners LLC now owns 1,696,000 shares of the specialty chemicals company’s stock worth $30,206,000 after purchasing an additional 146,500 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Orion by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,301,158 shares of the specialty chemicals company’s stock worth $23,178,000 after purchasing an additional 5,378 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Orion by 20.2% in the third quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company’s stock worth $21,001,000 after purchasing an additional 198,182 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Orion by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 960,349 shares of the specialty chemicals company’s stock worth $15,164,000 after purchasing an additional 85,074 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Orion from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of Orion from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, February 21st.

Insider Activity

In other news, VP Carlos Quinones acquired 3,300 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $13.07 per share, for a total transaction of $43,131.00. Following the transaction, the vice president now directly owns 79,702 shares of the company’s stock, valued at approximately $1,041,705.14. This trade represents a 4.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Orion Stock Up 3.2 %

OEC opened at $13.15 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. Orion S.A. has a 1-year low of $12.51 and a 1-year high of $26.05. The company has a market capitalization of $744.72 million, a PE ratio of 17.53 and a beta of 1.52. The firm’s 50 day simple moving average is $14.26 and its two-hundred day simple moving average is $15.98.

Orion (NYSE:OEC) last released its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. Orion had a net margin of 2.35% and a return on equity of 20.94%. The business had revenue of $434.20 million for the quarter, compared to the consensus estimate of $437.03 million. As a group, equities analysts forecast that Orion S.A. will post 1.73 EPS for the current year.

Orion Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.0207 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.63%. Orion’s payout ratio is 10.67%.

Orion Company 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.