Orion (NYSE:OEC) Given New $8.00 Price Target at UBS Group

Orion (NYSE:OEC) had its target price increased by UBS Group from $7.50 to $8.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

A number of other research firms have also weighed in on OEC. Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a report on Tuesday. Wall Street Zen downgraded shares of Orion from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a research report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average price target of $6.08.

Orion Trading Down 4.8%

OEC stock opened at $7.24 on Friday. Orion has a 1-year low of $4.34 and a 1-year high of $11.20. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 0.62. The company has a market capitalization of $408.92 million, a price-to-earnings ratio of -4.18 and a beta of 1.00. The business has a 50 day simple moving average of $6.84 and a two-hundred day simple moving average of $6.59.

Orion (NYSE:OEC) last issued its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Orion had a negative return on equity of 0.31% and a negative net margin of 5.28%.The firm had revenue of $500.90 million during the quarter, compared to the consensus estimate of $474.43 million. Research analysts anticipate that Orion will post 0.1 EPS for the current fiscal year.

Orion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Monday, July 6th will be issued a $0.0207 dividend. The ex-dividend date is Monday, July 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.1%. Orion’s dividend payout ratio is presently -5.00%.

Institutional Investors Weigh In On Orion

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP grew its stake in Orion by 430.9% in the 4th quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 4,757 shares in the last quarter. Performa Ltd US LLC increased its position in shares of Orion by 690.0% during the fourth quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 6,900 shares during the period. ProShare Advisors LLC bought a new stake in shares of Orion during the fourth quarter valued at approximately $53,000. Blue Trust Inc. bought a new stake in shares of Orion during the first quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Orion by 277.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 11,147 shares of the specialty chemicals company’s stock valued at $59,000 after purchasing an additional 8,194 shares during the period. 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.