Orion (NYSE:OEC) Price Target Cut to $5.00 by Analysts at JPMorgan Chase & Co.

Orion (NYSE:OEC) had its price target cut by JPMorgan Chase & Co. from $9.00 to $5.00 in a research report report published on Friday,Benzinga reports. They currently have an underweight rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued reports about the company. UBS Group cut Orion from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $12.00 to $7.00 in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Wednesday, October 8th. Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Mizuho set a $6.00 price objective on Orion in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Orion has a consensus rating of “Strong Sell” and an average target price of $6.00.

Orion Trading Down 1.4%

OEC stock opened at $5.08 on Friday. The company has a market capitalization of $285.24 million, a PE ratio of -8.76 and a beta of 1.07. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.64 and a current ratio of 1.08. Orion has a one year low of $4.34 and a one year high of $19.48. The company’s 50 day moving average price is $5.89 and its two-hundred day moving average price is $8.95.

Orion (NYSE:OEC) last released its earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). The business had revenue of $450.90 million for the quarter, compared to the consensus estimate of $453.45 million. Orion had a negative net margin of 1.74% and a positive return on equity of 14.90%. Orion’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. As a group, analysts predict that Orion will post 1.73 earnings per share for the current fiscal year.

Orion Announces Dividend

The firm also recently disclosed a interim dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Friday, December 12th will be paid a $0.0207 dividend. This represents a dividend yield of 80.0%. The ex-dividend date is Friday, December 12th. Orion’s dividend payout ratio is -13.79%.

Institutional Trading of Orion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Orion during the 1st quarter worth $59,000. CWM LLC raised its holdings in Orion by 831.7% in the 1st quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company’s stock worth $86,000 after purchasing an additional 5,947 shares during the period. Tower Research Capital LLC TRC raised its holdings in 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 worth $77,000 after purchasing an additional 5,632 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Orion during the first quarter valued at $137,000. Finally, Glenmede Investment Management LP bought a new stake in Orion during the third quarter valued at about $89,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

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.