Orion S.A. $OEC Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC reduced its position in shares of Orion S.A. (NYSE:OEC) by 68.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,679 shares of the specialty chemicals company’s stock after selling 139,953 shares during the period. Penn Capital Management Company LLC owned 0.11% of Orion worth $429,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Orion by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock worth $438,000 after purchasing an additional 1,097 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Orion by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 30,641 shares of the specialty chemicals company’s stock worth $162,000 after buying an additional 1,680 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Orion by 16.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,340 shares of the specialty chemicals company’s stock worth $65,000 after buying an additional 1,742 shares during the period. Versant Capital Management Inc increased its position in shares of Orion by 26.4% during the second quarter. Versant Capital Management Inc now owns 9,925 shares of the specialty chemicals company’s stock valued at $66,000 after acquiring an additional 2,072 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Orion by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 85,855 shares of the specialty chemicals company’s stock valued at $901,000 after acquiring an additional 2,344 shares during the period. 94.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OEC. Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a report on Friday, July 17th. UBS Group boosted their target price on Orion from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus price target of $6.08.

Orion Trading Up 0.3%

NYSE OEC opened at $6.36 on Monday. The firm has a market cap of $359.47 million, a PE ratio of -3.68 and a beta of 1.00. Orion S.A. has a one year low of $4.34 and a one year high of $10.85. The firm’s fifty day moving average is $6.49 and its two-hundred day moving average is $6.56. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 1.03.

Orion (NYSE:OEC) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Orion had a negative return on equity of 0.31% and a negative net margin of 5.28%.The company had revenue of $500.90 million for the quarter, compared to analyst estimates of $474.43 million. Analysts expect that Orion S.A. will post 0.08 earnings per share for the current year.

Orion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Monday, July 6th will be given a dividend of $0.0207 per share. The ex-dividend date is Monday, July 6th. This represents a $0.08 dividend on an annualized basis and a yield of 1.3%. Orion’s dividend payout ratio is presently -4.62%.

About Orion

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.