Orion (NYSE:OEC) Stock Passes Above 50 Day Moving Average – Here’s Why

Orion S.A. (NYSE:OEC) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $6.86 and traded as high as $7.61. Orion shares last traded at $6.8550, with a volume of 545,831 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OEC. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a report on Friday, July 17th. UBS Group upped their target price on Orion from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Zacks Research downgraded Orion from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Orion from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $5.92.

Orion Stock Up 1.8%

The stock has a fifty day moving average price of $6.86 and a 200-day moving average price of $6.52. The firm has a market cap of $393.94 million, a PE ratio of -4.37 and a beta of 1.00. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.62 and a current ratio of 1.00.

Orion (NYSE:OEC) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.18). Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. The business had revenue of $459.50 million during the quarter, compared to analysts’ expectations of $434.31 million. Research analysts expect that Orion S.A. will post 0.1 EPS for the current year.

Orion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Monday, July 6th will be issued a dividend of $0.0207 per share. The ex-dividend date is Monday, July 6th. This represents a $0.08 annualized dividend and a dividend yield of 1.2%. Orion’s payout ratio is presently -5.00%.

Institutional Trading of Orion

Several large investors have recently added to or reduced their stakes in OEC. Quarry LP raised its position in Orion by 430.9% in the fourth quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 4,757 shares during the period. Performa Ltd US LLC boosted 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 during the period. ProShare Advisors LLC acquired a new stake in shares of Orion in the fourth quarter valued at about $53,000. Blue Trust Inc. acquired a new stake in shares of Orion in the first quarter valued at about $55,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Orion by 277.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,147 shares of the specialty chemicals company’s stock valued at $59,000 after buying an additional 8,194 shares during the period. 94.33% of the stock is currently owned by institutional investors and hedge funds.

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.