Wall Street Zen cut shares of Orion (NYSE:OEC – Free Report) from a hold rating to a sell rating in a research note released on Saturday morning.
OEC has been the topic of a number of other reports. Zacks Research cut Orion from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. UBS Group lifted their price objective on Orion from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Orion presently has a consensus rating of “Strong Sell” and a consensus target price of $5.92.
Read Our Latest Research Report on OEC
Orion Stock Down 0.7%
Orion (NYSE:OEC – Get Free Report) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). The company had revenue of $459.50 million during the quarter, compared to analyst estimates of $434.31 million. Orion had a positive return on equity of 2.23% and a negative net margin of 4.98%. Equities analysts forecast that Orion will post 0.1 earnings per share for the current fiscal year.
Orion Announces Dividend
The business 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. The ex-dividend date is Monday, July 6th. This represents a $0.08 annualized dividend and a yield of 1.2%. Orion’s dividend payout ratio is -5.00%.
Institutional Investors Weigh In On Orion
Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 worth $438,000 after acquiring an additional 1,097 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Orion by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 30,641 shares of the specialty chemicals company’s stock valued at $162,000 after purchasing an additional 1,680 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Orion by 16.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,340 shares of the specialty chemicals company’s stock valued at $65,000 after purchasing an additional 1,742 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Orion by 26.4% in the second quarter. Versant Capital Management Inc now owns 9,925 shares of the specialty chemicals company’s stock valued at $66,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Orion by 2.8% in the second quarter. Rhumbline Advisers now owns 85,855 shares of the specialty chemicals company’s stock valued at $901,000 after purchasing an additional 2,344 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.
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.
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