Orion (NYSE:OEC) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Orion (NYSE:OEC) from a sell rating to a hold rating in a research note released on Sunday.

Several other research firms have also weighed in on OEC. JPMorgan Chase & Co. reduced their price target on shares of Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, November 28th. Zacks Research lowered shares of Orion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Mizuho boosted their target price on shares of Orion from $4.50 to $5.25 and gave the company an “underperform” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a research report on Thursday, January 22nd. Finally, UBS Group raised their price target on shares of Orion from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Orion has a consensus rating of “Strong Sell” and a consensus target price of $5.58.

Orion Stock Down 6.3%

OEC stock opened at $4.96 on Friday. The stock has a market cap of $278.82 million, a P/E ratio of -3.93 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.75. The stock’s fifty day simple moving average is $6.10 and its two-hundred day simple moving average is $6.49. Orion has a 1-year low of $4.34 and a 1-year high of $14.13.

Orion (NYSE:OEC) last announced its earnings results on Tuesday, February 17th. The specialty chemicals company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.26). The business had revenue of $411.70 million for the quarter, compared to analysts’ expectations of $365.79 million. Orion had a negative net margin of 3.88% and a positive return on equity of 6.52%. Analysts expect that Orion will post 1.73 EPS for the current year.

Orion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, March 12th will be paid a $0.0207 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.08 annualized dividend and a yield of 1.7%. Orion’s dividend payout ratio is currently -6.35%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quarry LP increased its holdings in shares of Orion by 430.9% in the fourth quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 4,757 shares during the period. Tower Research Capital LLC TRC boosted its stake in Orion by 321.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company’s stock valued at $77,000 after buying an additional 5,632 shares during the period. Performa Ltd US LLC grew its position in Orion by 690.0% during the fourth quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 6,900 shares in the last quarter. ProShare Advisors LLC purchased a new position in Orion during the fourth quarter worth about $53,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Orion in the 1st quarter worth about $137,000. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Orion Company Profile

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.