Canada Pension Plan Investment Board Invests $609,000 in Orion S.A. $OEC

Canada Pension Plan Investment Board acquired a new stake in Orion S.A. (NYSE:OEC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,800 shares of the specialty chemicals company’s stock, valued at approximately $609,000.

Other large investors have also bought and sold shares of the company. Allworth Financial LP acquired a new position in Orion during the second quarter worth about $28,000. Quarry LP raised its position in Orion by 430.9% in the fourth quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 4,757 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Orion in the 2nd quarter valued at about $37,000. Legal & General Group Plc acquired a new stake in Orion in the 2nd quarter valued at about $38,000. Finally, Performa Ltd US LLC boosted its position in shares of Orion by 690.0% during the 4th quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 6,900 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.

Orion Trading Down 6.3%

Shares of NYSE OEC opened at $5.85 on Wednesday. Orion S.A. has a 12 month low of $4.34 and a 12 month high of $10.85. The company has a market cap of $330.66 million, a price-to-earnings ratio of -3.38 and a beta of 1.00. The company has a quick ratio of 0.64, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The business has a fifty day simple moving average of $6.45 and a 200-day simple moving average of $6.54.

Orion (NYSE:OEC) last issued its quarterly earnings results 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). The company had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $474.43 million. Orion had a negative return on equity of 0.31% and a negative net margin of 5.28%. Sell-side analysts predict that Orion S.A. will post 0.08 EPS for the current year.

Orion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Monday, July 6th will be issued a $0.0207 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, July 6th. Orion’s dividend payout ratio (DPR) is presently -4.62%.

Analyst Upgrades and Downgrades

OEC has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research note on Friday, July 17th. Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Zacks Research upgraded shares of Orion from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, UBS Group lifted their price target on shares of Orion from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Orion presently has an average rating of “Strong Sell” and a consensus target price of $6.08.

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.