Orion (NYSE:OEC) Price Target Raised to $7.00

Orion (NYSE:OEC) had its target price upped by UBS Group from $6.50 to $7.00 in a research note published on Thursday, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Other equities analysts also recently issued reports about the company. Zacks Research downgraded Orion from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 25th. Mizuho increased their target price on Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Orion from a “sell” rating to a “hold” rating in a research note on Thursday. 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.com, the company currently has an average rating of “Strong Sell” and an average price target of $5.75.

Orion Stock Up 1.2%

OEC opened at $6.75 on Thursday. The business has a 50 day moving average price of $5.96 and a two-hundred day moving average price of $5.79. 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 company has a market cap of $379.94 million, a PE ratio of -5.36 and a beta of 0.91. Orion has a 52 week low of $4.34 and a 52 week high of $12.84.

Orion (NYSE:OEC) last posted its quarterly earnings data on Wednesday, February 18th. The specialty chemicals company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.26). The company had revenue of $411.70 million for the quarter, compared to analysts’ expectations 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, research 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 was paid on Thursday, April 2nd. Stockholders of record on Thursday, March 12th were issued a dividend of $0.0207 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.08 annualized dividend and a dividend yield of 1.2%. Orion’s dividend payout ratio (DPR) is -6.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harvey Partners LLC boosted its holdings in Orion by 15.5% in the second quarter. Harvey Partners LLC now owns 2,424,995 shares of the specialty chemicals company’s stock valued at $25,438,000 after acquiring an additional 325,995 shares during the last quarter. Divisar Capital Management LLC boosted its holdings in Orion by 10.9% in the third quarter. Divisar Capital Management LLC now owns 2,450,414 shares of the specialty chemicals company’s stock valued at $18,574,000 after acquiring an additional 241,160 shares during the last quarter. CSM Advisors LLC boosted its holdings in Orion by 106.5% in the third quarter. CSM Advisors LLC now owns 539,961 shares of the specialty chemicals company’s stock valued at $4,092,000 after acquiring an additional 278,501 shares during the last quarter. American Century Companies Inc. boosted its holdings in Orion by 6.9% in the third quarter. American Century Companies Inc. now owns 2,138,131 shares of the specialty chemicals company’s stock valued at $16,207,000 after acquiring an additional 137,890 shares during the last quarter. Finally, CenterBook Partners LP lifted its stake in shares of Orion by 36.9% during the third quarter. CenterBook Partners LP now owns 402,716 shares of the specialty chemicals company’s stock worth $3,053,000 after purchasing an additional 108,623 shares in the last quarter. Institutional investors and hedge funds 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.