Orion (NYSE:OEC) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Orion (NYSE:OEC) from a hold rating to a strong sell rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also issued reports on OEC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a report on Tuesday, April 21st. UBS Group raised their price objective on shares of Orion from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $5.92.

Orion Stock Up 2.9%

Shares of NYSE OEC opened at $5.63 on Monday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.62 and a current ratio of 1.00. Orion has a 1 year low of $4.34 and a 1 year high of $11.62. The stock’s 50-day simple moving average is $7.14 and its 200-day simple moving average is $6.42. The firm has a market cap of $317.31 million, a price-to-earnings ratio of -3.52 and a beta of 1.00.

Orion (NYSE:OEC) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). The business had revenue of $459.50 million for the quarter, compared to analyst estimates of $434.31 million. Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. As a group, equities analysts anticipate that Orion will post 0.1 earnings per share for the current fiscal year.

Orion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Monday, July 6th will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, July 6th. Orion’s dividend payout ratio is currently -5.00%.

Hedge Funds Weigh In On Orion

Several large investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in Orion by 0.4% during the first quarter. Pzena Investment Management LLC now owns 4,599,907 shares of the specialty chemicals company’s stock valued at $29,899,000 after purchasing an additional 17,311 shares during the last quarter. Divisar Capital Management LLC lifted its position in shares of Orion by 10.9% in the 3rd quarter. Divisar Capital Management LLC now owns 2,450,414 shares of the specialty chemicals company’s stock worth $18,574,000 after buying an additional 241,160 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Orion by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,350,415 shares of the specialty chemicals company’s stock valued at $17,816,000 after buying an additional 7,045 shares during the period. American Century Companies Inc. boosted its holdings in shares of Orion by 6.9% in the 3rd quarter. American Century Companies Inc. now owns 2,138,131 shares of the specialty chemicals company’s stock valued at $16,207,000 after buying an additional 137,890 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Orion by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,894,290 shares of the specialty chemicals company’s stock valued at $14,359,000 after buying an additional 213,339 shares during the last quarter. 94.33% of the stock is currently owned by 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.