Orion (NYSE:OEC) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Orion (NYSE:OEC) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Several other analysts have also recently weighed in on OEC. Wall Street Zen cut Orion from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a research note on Friday, July 17th. Finally, UBS Group increased their target price on Orion from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Orion currently has a consensus rating of “Strong Sell” and an average target price of $5.92.

Orion Price Performance

Shares of OEC opened at $6.54 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.62 and a debt-to-equity ratio of 1.75. The company’s fifty day simple moving average is $6.86 and its 200 day simple moving average is $6.57. Orion has a 1-year low of $4.34 and a 1-year high of $11.20. The company has a market cap of $368.51 million, a price-to-earnings ratio of -4.08 and a beta of 1.00.

Orion (NYSE:OEC) last issued its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. The firm had revenue of $500.90 million during the quarter, compared to analyst estimates of $474.43 million. On average, research analysts forecast that Orion will post 0.1 earnings per share for the current fiscal year.

Orion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Monday, July 6th will be paid a dividend of $0.0207 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th. Orion’s payout ratio is presently -5.00%.

Hedge Funds Weigh In On Orion

Several large investors have recently bought and sold shares of OEC. Quarry LP boosted its position in Orion by 430.9% during the 4th quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 4,757 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Orion by 321.8% in the 2nd 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 last quarter. Performa Ltd US LLC lifted its stake in shares of Orion by 690.0% in the fourth quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 6,900 shares during the period. Blue Trust Inc. acquired a new position in shares of Orion in the 1st quarter worth approximately $55,000. Finally, Versant Capital Management Inc raised its position in shares of Orion by 26.4% in the 2nd quarter. Versant Capital Management Inc now owns 9,925 shares of the specialty chemicals company’s stock worth $66,000 after acquiring an additional 2,072 shares in the last quarter. 94.33% of the stock is currently owned by institutional investors.

About Orion

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.