Zacks Research upgraded shares of Orion (NYSE:OEC – Free Report) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.
Several other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded Orion from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Thursday, January 22nd. Mizuho increased their target price on Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a research report on Wednesday, February 18th. Finally, UBS Group increased their target price on Orion from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $5.75.
Orion Price Performance
Orion (NYSE:OEC – Get Free Report) 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). Orion had a negative net margin of 3.88% and a positive return on equity of 6.52%. The firm had revenue of $411.70 million during the quarter, compared to analysts’ expectations of $365.79 million. Sell-side analysts forecast that Orion will post 0.3 EPS for the current year.
Orion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, March 12th were given a $0.0207 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, March 12th. Orion’s dividend payout ratio (DPR) is -6.35%.
Institutional Investors Weigh In On Orion
Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP raised its position in shares of Orion by 430.9% in the fourth 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 in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Orion by 321.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company’s stock worth $77,000 after buying an additional 5,632 shares in the last quarter. Performa Ltd US LLC raised its position 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 buying an additional 6,900 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of Orion in the first quarter worth $55,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Orion in the fourth quarter worth $53,000. Hedge funds and other institutional investors 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.
Further Reading
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