Orion (NYSE:OEC) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Orion (NYSE:OEC) from a buy rating to a hold rating in a research note published on Tuesday.

Separately, JPMorgan Chase & Co. decreased their target price on shares of Orion from $24.00 to $20.00 and set a neutral rating on the stock in a report on Wednesday, August 7th.

Orion Price Performance

Orion stock opened at $17.08 on Tuesday. The firm has a market capitalization of $995.90 million, a P/E ratio of 11.54 and a beta of 1.46. Orion has a one year low of $15.54 and a one year high of $28.48. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.80. The business has a fifty day moving average price of $17.24 and a 200-day moving average price of $21.29.

Orion (NYSE:OEC) last issued its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.18). The company had revenue of $477.00 million during the quarter, compared to the consensus estimate of $491.14 million. Orion had a return on equity of 19.21% and a net margin of 4.09%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. As a group, equities research analysts forecast that Orion will post 1.85 EPS for the current year.

Orion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Friday, December 13th will be paid a $0.021 dividend. This is a positive change from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, December 13th. Orion’s dividend payout ratio is currently 5.41%.

Insider Activity

In related news, CEO Corning F. Painter acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $17.48 per share, for a total transaction of $349,600.00. Following the completion of the transaction, the chief executive officer now owns 948,776 shares in the company, valued at approximately $16,584,604.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Corning F. Painter acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $17.48 per share, with a total value of $349,600.00. Following the acquisition, the chief executive officer now owns 948,776 shares of the company’s stock, valued at approximately $16,584,604.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Glajch bought 15,000 shares of Orion stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $18.16 per share, for a total transaction of $272,400.00. Following the purchase, the chief financial officer now owns 101,855 shares of the company’s stock, valued at $1,849,686.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 47,500 shares of company stock worth $845,225. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Orion

A number of large investors have recently modified their holdings of OEC. CWM LLC grew its position in Orion by 207.0% during the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 1,412 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Orion during the 2nd quarter valued at $54,000. Lazard Asset Management LLC grew its holdings in shares of Orion by 1,375.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock valued at $89,000 after purchasing an additional 3,534 shares during the last quarter. Quarry LP raised its position in Orion by 76.9% in the 2nd quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock worth $105,000 after purchasing an additional 2,076 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Orion in the second quarter worth $140,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

About Orion

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.