Orion (NYSE:OEC) Raised to Hold at Zacks Research

Orion (NYSE:OEC) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages have also commented on OEC. JPMorgan Chase & Co. dropped their price target on Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, November 28th. Mizuho set a $6.00 price target on shares of Orion in a report on Monday, October 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a research report on Thursday, January 22nd. Finally, UBS Group lifted their target price on shares of Orion from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $5.67.

Orion Price Performance

OEC traded down $0.21 during midday trading on Tuesday, reaching $6.09. 215,659 shares of the company’s stock were exchanged, compared to its average volume of 583,780. Orion has a 1-year low of $4.34 and a 1-year high of $16.63. The stock has a market capitalization of $341.95 million, a PE ratio of -10.50 and a beta of 1.07. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.08 and a quick ratio of 0.64. The business’s 50-day moving average price is $5.47 and its 200 day moving average price is $7.32.

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

Hedge Funds Weigh In On Orion

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its position in shares of Orion by 2.6% in the third quarter. Pzena Investment Management LLC now owns 4,694,825 shares of the specialty chemicals company’s stock worth $35,587,000 after acquiring an additional 117,628 shares in the last quarter. Divisar Capital Management LLC increased its position in Orion by 10.9% in the 3rd quarter. Divisar Capital Management LLC now owns 2,450,414 shares of the specialty chemicals company’s stock worth $18,574,000 after purchasing an additional 241,160 shares during the last quarter. Harvey Partners LLC raised its position in Orion by 15.5% during 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 in the last quarter. Dimensional Fund Advisors LP increased its position in Orion by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,350,415 shares of the specialty chemicals company’s stock worth $17,816,000 after buying an additional 7,045 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Orion by 6.9% in the 3rd quarter. American Century Companies Inc. now owns 2,138,131 shares of the specialty chemicals company’s stock worth $16,207,000 after purchasing an additional 137,890 shares during the last quarter. 94.33% of the stock is owned by institutional investors.

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.