Minneapolis Portfolio Management Group LLC Sells 1,087,282 Shares of Orion S.A. $OEC

Minneapolis Portfolio Management Group LLC reduced its stake in shares of Orion S.A. (NYSE:OEC) by 55.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 865,193 shares of the specialty chemicals company’s stock after selling 1,087,282 shares during the quarter. Orion makes up 0.8% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 28th largest position. Minneapolis Portfolio Management Group LLC owned 1.54% of Orion worth $6,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised 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 worth $3,661,000 after purchasing an additional 27,442 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Orion by 86.2% in the 1st quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company’s stock worth $1,928,000 after buying an additional 69,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 acquiring an additional 1,097 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Orion during the first quarter valued at approximately $137,000. Finally, Jane Street Group LLC boosted its stake in Orion by 202.7% in the first quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company’s stock valued at $1,566,000 after acquiring an additional 81,079 shares in the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

Orion Stock Down 0.5%

Shares of OEC stock opened at $6.39 on Friday. The stock’s 50-day simple moving average is $5.22 and its 200-day simple moving average is $7.62. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.64 and a current ratio of 1.08. The firm has a market capitalization of $358.80 million, a PE ratio of -11.02 and a beta of 1.07. Orion S.A. has a fifty-two week low of $4.34 and a fifty-two week high of $16.63.

Orion (NYSE:OEC) last released its earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Orion had a positive return on equity of 14.90% and a negative net margin of 1.74%.The firm had revenue of $450.90 million for the quarter, compared to analyst estimates of $453.45 million. During the same period last year, the firm earned $0.47 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts expect that Orion S.A. will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OEC. Mizuho set a $6.00 price target on Orion in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research note on Wednesday, October 8th. Zacks Research cut Orion from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 16th. UBS Group boosted their price target on Orion from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a report on Friday, November 28th. One equities research analyst has rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average price target of $5.67.

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.