Orion (NYSE:OEC) Announces Quarterly Earnings Results

Orion (NYSE:OEC) announced its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02), FiscalAI reports. The firm had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $474.43 million. Orion had a positive return on equity of 2.23% and a negative net margin of 4.98%.

Orion Stock Down 1.9%

Shares of Orion stock traded down $0.12 during trading hours on Wednesday, reaching $6.54. 468,824 shares of the company were exchanged, compared to its average volume of 589,707. The firm has a market cap of $368.51 million, a PE ratio of -4.08 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 has a 1 year low of $4.34 and a 1 year high of $11.20. The stock’s fifty day moving average is $6.86 and its 200 day moving average is $6.57.

Orion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Monday, July 6th will be paid a $0.0207 dividend. The ex-dividend date is Monday, July 6th. This represents a $0.08 annualized dividend and a dividend yield of 1.3%. Orion’s payout ratio is -5.00%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Orion

A number of hedge funds have recently bought and sold shares of OEC. Quarry LP grew its holdings in Orion by 430.9% during 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. Public Employees Retirement System of Ohio increased its holdings in 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 buying an additional 8,194 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Orion by 321.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company’s stock valued at $77,000 after buying an additional 5,632 shares in the last quarter. XTX Topco Ltd purchased a new stake in Orion during the 4th quarter worth about $82,000. Finally, Glenmede Investment Management LP acquired a new position in shares of Orion during the 3rd quarter worth about $89,000. Institutional investors and hedge funds own 94.33% of the company’s stock.

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.