Orion S.A. (NYSE:OEC) Short Interest Update

Orion S.A. (NYSE:OEC) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 1,675,940 shares, an increase of 44.9% from the February 26th total of 1,156,976 shares. Based on an average trading volume of 832,369 shares, the short-interest ratio is currently 2.0 days. Approximately 3.0% of the shares of the stock are short sold.

Orion Price Performance

Shares of NYSE:OEC traded down $0.23 during trading on Friday, reaching $6.03. The stock had a trading volume of 1,002,890 shares, compared to its average volume of 852,233. The business’s 50-day moving average price is $5.92 and its 200 day moving average price is $5.93. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 0.59. The stock has a market capitalization of $339.25 million, a PE ratio of -4.78 and a beta of 1.05. Orion has a 52 week low of $4.34 and a 52 week high of $13.42.

Orion (NYSE:OEC) last announced its earnings results on Wednesday, February 18th. The specialty chemicals company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.26). The business had revenue of $411.70 million during the quarter, compared to analyst estimates of $365.79 million. Orion had a negative net margin of 3.88% and a positive return on equity of 6.52%. As a group, equities analysts predict that Orion will post 1.73 earnings per share for the current year.

Orion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, March 12th will be given a $0.0207 dividend. This represents a $0.08 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, March 12th. Orion’s payout ratio is -6.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Orion by 10.7% in the first quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company’s stock valued at $3,661,000 after acquiring an additional 27,442 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Orion by 86.2% in the first quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company’s stock worth $1,928,000 after purchasing an additional 69,054 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Orion by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock worth $438,000 after buying an additional 1,097 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Orion in the 1st quarter valued at $137,000. Finally, Jane Street Group LLC lifted its stake in shares of Orion by 202.7% during the 1st quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company’s stock worth $1,566,000 after buying an additional 81,079 shares during the last quarter. 94.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group raised their price target on shares of Orion from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a report on Thursday, January 22nd. Wall Street Zen upgraded Orion from a “sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Mizuho boosted their price target on Orion from $4.50 to $5.25 and gave the company an “underperform” rating in a research note on Wednesday, February 18th. Finally, Zacks Research cut Orion from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $5.58.

Orion Company Profile

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.