Orion (NYSE:OEC) Issues Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Orion (NYSE:OEC) announced its quarterly earnings data on Wednesday. The specialty chemicals company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18), FiscalAI reports. Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. The firm had revenue of $459.50 million during the quarter, compared to analysts’ expectations of $434.31 million.

Orion Trading Up 6.6%

OEC stock traded up $0.47 during midday trading on Friday, hitting $7.63. 497,256 shares of the company’s stock were exchanged, compared to its average volume of 481,573. Orion has a 1-year low of $4.34 and a 1-year high of $12.10. The company has a current ratio of 1.00, a quick ratio of 0.59 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $430.31 million, a PE ratio of -4.77 and a beta of 0.98. The business has a 50-day simple moving average of $6.20 and a two-hundred day simple moving average of $5.82.

Orion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be given a $0.0207 dividend. This represents a $0.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, June 10th. Orion’s dividend payout ratio is presently -5.00%.

Hedge Funds Weigh In On Orion

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC increased its position in shares of Orion by 361.3% during the 4th quarter. AQR Capital Management LLC now owns 874,279 shares of the specialty chemicals company’s stock worth $4,616,000 after purchasing an additional 684,749 shares during the last quarter. Verition Fund Management LLC boosted its stake in Orion by 190.0% during the third quarter. Verition Fund Management LLC now owns 582,141 shares of the specialty chemicals company’s stock worth $4,413,000 after buying an additional 381,388 shares during the period. CastleKnight Management LP boosted its stake in Orion by 376.2% during the fourth quarter. CastleKnight Management LP now owns 471,941 shares of the specialty chemicals company’s stock worth $2,492,000 after buying an additional 372,841 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Orion during the fourth quarter valued at about $1,910,000. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Orion by 68.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 797,905 shares of the specialty chemicals company’s stock valued at $4,213,000 after acquiring an additional 324,921 shares during the last quarter. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Orion from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a report on Tuesday, April 21st. Wall Street Zen upgraded Orion from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Mizuho upped their target price on Orion from $4.50 to $5.25 and gave the company an “underperform” rating in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Orion presently has an average rating of “Strong Sell” and an average target price of $5.92.

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.