Foundry Partners LLC cut its holdings in shares of Orion Group Holdings Inc (NYSE:ORN) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 842,607 shares of the construction company’s stock after selling 30,517 shares during the quarter. Foundry Partners LLC owned approximately 2.92% of Orion Group worth $6,362,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in ORN. BlackRock Inc. increased its position in shares of Orion Group by 8.5% during the 2nd quarter. BlackRock Inc. now owns 4,017,906 shares of the construction company’s stock valued at $33,187,000 after purchasing an additional 315,502 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Orion Group by 6.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,224,261 shares of the construction company’s stock valued at $14,658,000 after acquiring an additional 136,757 shares during the last quarter. Acadian Asset Management LLC lifted its position in Orion Group by 2,315.1% in the 2nd quarter. Acadian Asset Management LLC now owns 126,550 shares of the construction company’s stock worth $1,045,000 after buying an additional 121,310 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Orion Group by 158.0% in the 1st quarter. JPMorgan Chase & Co. now owns 158,326 shares of the construction company’s stock worth $1,043,000 after buying an additional 96,967 shares during the last quarter. Finally, Algert Global LLC lifted its position in Orion Group by 61.4% in the 2nd quarter. Algert Global LLC now owns 196,216 shares of the construction company’s stock worth $1,621,000 after buying an additional 74,626 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Orion Group stock opened at $5.91 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 1.63. The company has a market capitalization of $196.17 million, a price-to-earnings ratio of -42.21 and a beta of 1.13. Orion Group Holdings Inc has a one year low of $5.88 and a one year high of $9.83.
Orion Group (NYSE:ORN) last announced its quarterly earnings results on Thursday, August 2nd. The construction company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. The business had revenue of $159.77 million for the quarter, compared to analysts’ expectations of $150.97 million. Orion Group had a return on equity of 0.96% and a net margin of 1.81%. As a group, equities analysts expect that Orion Group Holdings Inc will post 0.17 EPS for the current fiscal year.
In other news, CFO Christopher James Dealmeida sold 5,999 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $9.50, for a total transaction of $56,990.50. Following the transaction, the chief financial officer now directly owns 89,132 shares of the company’s stock, valued at $846,754. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Austin J. Shanfelter sold 12,064 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $9.28, for a total value of $111,953.92. Following the transaction, the director now directly owns 34,686 shares in the company, valued at $321,886.08. The disclosure for this sale can be found here. Insiders sold a total of 22,769 shares of company stock worth $207,111 over the last ninety days. Insiders own 7.60% of the company’s stock.
A number of research firms recently weighed in on ORN. ValuEngine upgraded Orion Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. B. Riley boosted their target price on Orion Group from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research raised Orion Group from a “hold” rating to a “strong-buy” rating and set a $9.50 price target on the stock in a research note on Wednesday, July 11th. Noble Financial set a $10.00 price target on Orion Group and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, Canaccord Genuity decreased their price target on Orion Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Orion Group presently has a consensus rating of “Hold” and an average target price of $9.63.
About Orion Group
Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.
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