Orion (NYSE:OEC) PT Raised to $26.00 at Mizuho

Orion (NYSE:OEC) had its target price raised by Mizuho from $25.00 to $26.00 in a research report sent to investors on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the specialty chemicals company’s stock.

OEC has been the subject of several other reports. StockNews.com upgraded Orion from a hold rating to a buy rating in a report on Thursday, April 18th. UBS Group decreased their price objective on Orion from $33.00 to $32.00 and set a buy rating for the company in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $28.00.

Orion Trading Up 0.8 %

Shares of NYSE:OEC traded up $0.19 during mid-day trading on Friday, reaching $23.79. The stock had a trading volume of 497,727 shares, compared to its average volume of 380,016. The firm has a 50 day simple moving average of $23.41 and a two-hundred day simple moving average of $23.50. Orion has a twelve month low of $19.32 and a twelve month high of $28.48. The firm has a market cap of $1.39 billion, a PE ratio of 15.95 and a beta of 1.62. The company has a current ratio of 1.45, a quick ratio of 0.85 and a debt-to-equity ratio of 1.36.

Orion (NYSE:OEC) last issued its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.11). The firm had revenue of $502.90 million during the quarter, compared to the consensus estimate of $506.38 million. Orion had a net margin of 4.64% and a return on equity of 21.07%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. On average, research analysts predict that Orion will post 2.15 EPS for the current fiscal year.

Orion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be paid a $0.021 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Tuesday, June 11th. Orion’s dividend payout ratio is 5.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bourgeon Capital Management LLC acquired a new stake in Orion in the 4th quarter valued at approximately $28,000. Mendota Financial Group LLC acquired a new stake in shares of Orion in the first quarter valued at approximately $104,000. Covestor Ltd lifted its position in shares of Orion by 9.3% in the third quarter. Covestor Ltd now owns 5,706 shares of the specialty chemicals company’s stock worth $121,000 after purchasing an additional 485 shares in the last quarter. HBK Sorce Advisory LLC acquired a new position in Orion during the fourth quarter worth $247,000. Finally, Teza Capital Management LLC bought a new position in Orion in the third quarter valued at $208,000. 94.33% of the stock is owned by institutional investors and hedge funds.

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.