Lazard Asset Management LLC Sells 5,233 Shares of Orion S.A. (NYSE:OEC)

Lazard Asset Management LLC lessened its position in Orion S.A. (NYSE:OEC) by 61.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,315 shares of the specialty chemicals company’s stock after selling 5,233 shares during the period. Lazard Asset Management LLC’s holdings in Orion were worth $52,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Orion by 18.0% during the fourth quarter. SG Americas Securities LLC now owns 23,911 shares of the specialty chemicals company’s stock valued at $378,000 after buying an additional 3,646 shares during the period. Inspire Investing LLC lifted its position in shares of Orion by 9.2% in the 4th quarter. Inspire Investing LLC now owns 25,351 shares of the specialty chemicals company’s stock worth $400,000 after purchasing an additional 2,138 shares during the period. Carnegie Lake Advisors LLC lifted its position in shares of Orion by 72.1% in the 4th quarter. Carnegie Lake Advisors LLC now owns 69,461 shares of the specialty chemicals company’s stock worth $1,097,000 after purchasing an additional 29,100 shares during the period. Rhumbline Advisers boosted its stake in shares of Orion by 2.9% during the 4th quarter. Rhumbline Advisers now owns 79,177 shares of the specialty chemicals company’s stock valued at $1,250,000 after purchasing an additional 2,245 shares in the last quarter. Finally, Secured Retirement Advisors LLC purchased a new position in shares of Orion during the fourth quarter valued at about $1,212,000. Institutional investors own 94.33% of the company’s stock.

Insiders Place Their Bets

In other Orion news, VP Carlos Quinones purchased 3,300 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $13.07 per share, for a total transaction of $43,131.00. Following the completion of the purchase, the vice president now directly owns 79,702 shares of the company’s stock, valued at $1,041,705.14. This trade represents a 4.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on OEC shares. UBS Group cut their price objective on Orion from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered shares of Orion from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $12.00 in a research note on Thursday, April 24th.

Orion Stock Performance

Orion stock opened at $10.55 on Monday. Orion S.A. has a twelve month low of $9.59 and a twelve month high of $25.24. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $593.54 million, a P/E ratio of 14.06 and a beta of 1.20. The stock’s 50 day moving average is $11.93 and its 200 day moving average is $14.27.

Orion (NYSE:OEC) last released its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). Orion had a return on equity of 20.94% and a net margin of 2.35%. The company had revenue of $477.70 million during the quarter, compared to analysts’ expectations of $486.06 million. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue was down 5.0% on a year-over-year basis. On average, equities research analysts predict that Orion S.A. will post 1.73 earnings per share for the current fiscal year.

Orion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.0207 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.08 dividend on an annualized basis and a yield of 0.78%. Orion’s dividend payout ratio is currently 17.39%.

Orion Profile

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.