JB Capital Partners LP Purchases New Position in Orion S.A. $OEC

JB Capital Partners LP acquired a new position in shares of Orion S.A. (NYSE:OEC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 335,000 shares of the specialty chemicals company’s stock, valued at approximately $2,214,350,000.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Orion by 10.7% during the first quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company’s stock worth $3,661,000 after acquiring an additional 27,442 shares during the period. AQR Capital Management LLC increased its stake in shares of Orion by 86.2% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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. Dynamic Technology Lab Private Ltd acquired a new stake in Orion during the 1st quarter worth approximately $137,000. Finally, Jane Street Group LLC boosted its stake in Orion by 202.7% in the 1st quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company’s stock valued at $1,566,000 after purchasing an additional 81,079 shares during the period. Institutional investors own 94.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Orion Stock Performance

Shares of OEC stock opened at $6.09 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. The stock has a market cap of $344.21 million, a P/E ratio of -3.52 and a beta of 1.00. The stock has a 50 day simple moving average of $6.65 and a 200 day simple moving average of $6.59. Orion S.A. has a 1 year low of $4.34 and a 1 year high of $10.89.

Orion (NYSE:OEC) last issued its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share (EPS) 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. On average, research analysts predict that Orion S.A. will post 0.08 earnings per share for the current fiscal year.

Orion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Monday, July 6th will be issued a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, July 6th. Orion’s dividend payout ratio is -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.