Orion (NYSE:OEC) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Orion (NYSE:OEC) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other equities research analysts also recently weighed in on the stock. Mizuho increased their target price on shares of Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research note on Thursday, January 22nd. Zacks Research cut Orion from a “hold” rating to a “strong sell” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, November 28th. Finally, UBS Group upped their price target on 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and an average price target of $5.58.

Orion Price Performance

Shares of OEC opened at $5.68 on Friday. The firm has a fifty day moving average price of $6.10 and a 200 day moving average price of $6.70. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 0.59. Orion has a 1-year low of $4.34 and a 1-year high of $14.28. The stock has a market cap of $319.39 million, a PE ratio of -4.50 and a beta of 1.06.

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

Orion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, March 12th will be issued a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, March 12th. Orion’s dividend payout ratio is currently -6.35%.

Institutional Investors Weigh In On Orion

Several institutional investors have recently made changes to their positions in OEC. Royal Bank of Canada increased its holdings in shares of Orion by 10.7% in the 1st quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company’s stock valued at $3,661,000 after purchasing an additional 27,442 shares in the last quarter. AQR Capital Management LLC grew its position in Orion by 86.2% during the first quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company’s stock worth $1,928,000 after buying an additional 69,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Orion by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock valued at $438,000 after buying an additional 1,097 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Orion during the 1st quarter valued at approximately $137,000. Finally, Jane Street Group LLC lifted its position in shares of Orion by 202.7% during the 1st quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company’s stock valued at $1,566,000 after acquiring an additional 81,079 shares during the period. 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.