Orion (NYSE:OEC) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Orion S.A. (NYSE:OEC) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 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.

Wall Street Analysts Forecast Growth

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

Orion Stock Down 9.2%

The firm has a market cap of $386.55 million, a price-to-earnings ratio of -4.28 and a beta of 1.00. The business’s 50-day moving average is $6.86 and its 200-day moving average is $6.52. 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 released its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $459.50 million during the quarter, compared to analyst estimates of $434.31 million. On average, equities analysts predict that Orion S.A. will post 0.1 EPS for the current year.

Orion Dividend Announcement

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

Hedge Funds Weigh In On Orion

Large investors have recently modified their holdings of the stock. Pzena Investment Management LLC increased its holdings in shares of Orion by 0.4% in the first quarter. Pzena Investment Management LLC now owns 4,599,907 shares of the specialty chemicals company’s stock valued at $29,899,000 after purchasing an additional 17,311 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Orion by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,350,415 shares of the specialty chemicals company’s stock valued at $17,816,000 after buying an additional 7,045 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Orion by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,894,290 shares of the specialty chemicals company’s stock valued at $14,359,000 after buying an additional 213,339 shares during the period. Invesco Ltd. raised its position in shares of Orion by 0.4% during the fourth quarter. Invesco Ltd. now owns 1,807,965 shares of the specialty chemicals company’s stock worth $9,546,000 after acquiring an additional 7,898 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Orion by 20.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,404,458 shares of the specialty chemicals company’s stock worth $7,416,000 after acquiring an additional 236,013 shares during the last quarter. 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.