StockNews.com Lowers Orion (NYSE:OEC) to Hold

Orion (NYSE:OEC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, JPMorgan Chase & Co. cut their price target on Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Orion Stock Performance

Shares of OEC opened at $17.34 on Wednesday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 11.72 and a beta of 1.47. Orion has a 12 month low of $15.54 and a 12 month high of $28.48. The firm has a fifty day simple moving average of $18.25 and a 200 day simple moving average of $21.74. The company has a current ratio of 1.39, a quick ratio of 0.80 and a debt-to-equity ratio of 1.31.

Orion (NYSE:OEC) last posted its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.18). The company had revenue of $477.00 million for the quarter, compared to analyst estimates of $491.14 million. Orion had a return on equity of 19.21% and a net margin of 4.09%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. Research analysts forecast that Orion will post 1.85 EPS for the current fiscal year.

Insider Transactions at Orion

In other Orion news, CEO Corning F. Painter acquired 10,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average price of $17.69 per share, with a total value of $176,900.00. Following the acquisition, the chief executive officer now directly owns 958,776 shares of the company’s stock, valued at approximately $16,960,747.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Corning F. Painter purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $17.48 per share, with a total value of $349,600.00. Following the completion of the purchase, the chief executive officer now directly owns 948,776 shares in the company, valued at $16,584,604.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corning F. Painter acquired 10,000 shares of Orion stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $17.69 per share, for a total transaction of $176,900.00. Following the completion of the purchase, the chief executive officer now directly owns 958,776 shares of the company’s stock, valued at $16,960,747.44. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 47,500 shares of company stock valued at $845,225. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Orion

Institutional investors have recently modified their holdings of the business. CWM LLC grew its position in Orion by 207.0% in the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 1,412 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Orion in the second quarter valued at about $54,000. Lazard Asset Management LLC raised its position in shares of Orion by 1,375.1% during the first quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock worth $89,000 after acquiring an additional 3,534 shares during the last quarter. Quarry LP lifted its position in shares of Orion by 76.9% in the 2nd quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock worth $105,000 after purchasing an additional 2,076 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Orion in the second quarter valued at $140,000. Institutional investors and hedge funds own 94.33% of the company’s stock.

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.