Orion (NYSE:OEC) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Orion (NYSE:OEC) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, November 28th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a report on Thursday, January 22nd. UBS Group lifted their price target on Orion from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Finally, Mizuho increased their price objective on Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Orion has an average rating of “Strong Sell” and an average target price of $5.58.

Orion Trading Down 0.1%

Shares of NYSE OEC opened at $5.68 on Wednesday. Orion has a 12 month low of $4.34 and a 12 month high of $14.28. The company has a market cap of $319.39 million, a price-to-earnings ratio of -4.50 and a beta of 1.06. The company has a quick ratio of 0.59, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. The business has a fifty day simple moving average of $6.10 and a 200-day simple moving average of $6.72.

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

Orion Announces Dividend

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 $0.0207 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.08 dividend on an annualized basis and a yield of 1.5%. Orion’s dividend payout ratio is currently -6.35%.

Hedge Funds Weigh In On Orion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Orion by 10.7% in the first quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company’s stock worth $3,661,000 after buying an additional 27,442 shares during the last quarter. AQR Capital Management LLC raised its holdings in Orion by 86.2% in the 1st quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company’s stock worth $1,928,000 after acquiring an additional 69,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Orion by 3.3% during the 1st 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. Dynamic Technology Lab Private Ltd bought a new stake in Orion during the first quarter valued at about $137,000. Finally, Jane Street Group LLC boosted its holdings in Orion by 202.7% during the first 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. Institutional investors and hedge funds own 94.33% of the company’s stock.

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.