Orion (NYSE:OEC) Rating Increased to Buy at StockNews.com

Orion (NYSE:OEC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, JPMorgan Chase & Co. cut their price objective on Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

Orion Stock Down 2.5 %

Orion stock opened at $16.52 on Tuesday. The business’s 50-day moving average price is $18.71 and its 200 day moving average price is $21.88. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The firm has a market cap of $964.11 million, a price-to-earnings ratio of 11.16 and a beta of 1.47. Orion has a 52 week low of $15.54 and a 52 week high of $28.48.

Orion (NYSE:OEC) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.18). The firm had revenue of $477.00 million for the quarter, compared to analyst estimates of $491.14 million. Orion had a return on equity of 19.21% and a net margin of 4.09%. Orion’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. As a group, sell-side analysts anticipate that Orion will post 1.85 earnings per share for the current year.

Insider Buying and Selling at Orion

In other Orion news, Director Dan F. Smith purchased 2,500 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $18.53 per share, for a total transaction of $46,325.00. Following the acquisition, the director now owns 78,772 shares in the company, valued at approximately $1,459,645.16. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Corning F. Painter bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $17.48 per share, for a total transaction of $349,600.00. Following the acquisition, the chief executive officer now owns 948,776 shares of the company’s stock, valued at $16,584,604.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dan F. Smith purchased 2,500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $18.53 per share, for a total transaction of $46,325.00. Following the completion of the purchase, the director now directly owns 78,772 shares of the company’s stock, valued at $1,459,645.16. The disclosure for this purchase can be found here. Insiders have bought 47,500 shares of company stock worth $845,225 in the last ninety days. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Orion

Institutional investors have recently modified their holdings of the company. Grizzlyrock Capital LLC purchased a new stake in Orion during the fourth quarter worth about $23,586,000. Schroder Investment Management Group acquired a new stake in Orion during the 4th quarter worth approximately $17,174,000. William Blair Investment Management LLC lifted its holdings in Orion by 13.1% during the 1st quarter. William Blair Investment Management LLC now owns 2,624,526 shares of the specialty chemicals company’s stock worth $61,729,000 after buying an additional 304,372 shares in the last quarter. Jade Capital Advisors LLC boosted its position in Orion by 420.4% in the 4th quarter. Jade Capital Advisors LLC now owns 328,041 shares of the specialty chemicals company’s stock valued at $9,097,000 after buying an additional 265,000 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Orion by 18.6% during the second quarter. American Century Companies Inc. now owns 1,347,138 shares of the specialty chemicals company’s stock worth $29,556,000 after acquiring an additional 210,990 shares during the period. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Company 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.