Orion (NYSE:OEC) Rating Lowered to “Strong Sell” at Zacks Research

Orion (NYSE:OEC) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently commented on OEC. UBS Group lifted their price target on shares of Orion from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Orion from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $5.92.

Orion Trading Up 2.9%

NYSE OEC opened at $5.63 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.00 and a debt-to-equity ratio of 1.75. The stock’s 50-day simple moving average is $7.14 and its two-hundred day simple moving average is $6.42. Orion has a twelve month low of $4.34 and a twelve month high of $11.62. The company has a market capitalization of $317.31 million, a price-to-earnings ratio of -3.52 and a beta of 1.00.

Orion (NYSE:OEC) last announced its quarterly earnings data 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). The firm had revenue of $459.50 million for the quarter, compared to the consensus estimate of $434.31 million. Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. Research analysts forecast that Orion will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC raised its position in shares of Orion by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 4,599,907 shares of the specialty chemicals company’s stock worth $29,899,000 after acquiring an additional 17,311 shares in the last quarter. Divisar Capital Management LLC boosted its position in shares of Orion by 10.9% during the third quarter. Divisar Capital Management LLC now owns 2,450,414 shares of the specialty chemicals company’s stock valued at $18,574,000 after purchasing an additional 241,160 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Orion by 0.3% in 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 purchasing an additional 7,045 shares during the period. American Century Companies Inc. raised its holdings in Orion by 6.9% in the third 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 in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Orion by 12.7% in the third quarter. Vanguard Group Inc. now owns 1,894,290 shares of the specialty chemicals company’s stock worth $14,359,000 after purchasing an additional 213,339 shares in the last quarter. Hedge funds and other 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.