Victory Capital Management Inc. Sells 37,306 Shares of Orion S.A. (NYSE:OEC)

Victory Capital Management Inc. lessened its position in shares of Orion S.A. (NYSE:OEC) by 3.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,141,875 shares of the specialty chemicals company’s stock after selling 37,306 shares during the period. Victory Capital Management Inc.’s holdings in Orion were worth $18,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of Orion by 11.4% during the third quarter. Meeder Asset Management Inc. now owns 13,637 shares of the specialty chemicals company’s stock worth $243,000 after buying an additional 1,396 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Orion during the 3rd quarter worth approximately $27,000. Franklin Resources Inc. grew its stake in shares of Orion by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 57,672 shares of the specialty chemicals company’s stock worth $984,000 after acquiring an additional 1,775 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Orion by 9.2% in the fourth quarter. Inspire Investing LLC now owns 25,351 shares of the specialty chemicals company’s stock valued at $400,000 after purchasing an additional 2,138 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Orion by 2.9% in the fourth quarter. Rhumbline Advisers now owns 79,177 shares of the specialty chemicals company’s stock worth $1,250,000 after purchasing an additional 2,245 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.

Orion Trading Down 0.5 %

NYSE OEC opened at $13.31 on Wednesday. Orion S.A. has a 12 month low of $12.56 and a 12 month high of $26.05. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average of $14.41 and a 200-day moving average of $16.09. The company has a market cap of $753.89 million, a PE ratio of 17.74 and a beta of 1.52.

Orion (NYSE:OEC) last announced its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Orion had a net margin of 2.35% and a return on equity of 20.94%. The firm had revenue of $434.20 million during the quarter, compared to analysts’ expectations of $437.03 million. On average, equities research analysts anticipate that Orion S.A. will post 1.73 EPS for the current fiscal year.

Orion Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 13th will be issued a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, March 13th. Orion’s payout ratio is currently 10.67%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Orion from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. UBS Group reduced their price objective on shares of Orion from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 20th.

About Orion

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.