UBS Group Cuts Orion (NYSE:OEC) Price Target to $6.50

Orion (NYSE:OEC) had its price target lowered by UBS Group from $8.00 to $6.50 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a report on Friday, July 17th. Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $5.58.

Orion Trading Down 0.1%

Shares of Orion stock opened at $5.71 on Monday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $6.14 and its 200-day simple moving average is $6.61. The stock has a market cap of $323.01 million, a P/E ratio of -3.30 and a beta of 1.05. Orion has a 1-year low of $4.34 and a 1-year high of $8.64.

Orion (NYSE:OEC) last posted its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. The company had revenue of $500.90 million during the quarter, compared to analyst estimates of $474.43 million. Analysts predict that Orion will post 0.08 EPS for the current fiscal year.

Orion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 19th. Shareholders of record on Friday, December 11th will be given a $0.0207 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.08 dividend on an annualized basis and a yield of 1.4%. Orion’s payout ratio is currently -4.62%.

Hedge Funds Weigh In On Orion

Several large investors have recently modified their holdings of OEC. Allworth Financial LP grew its position in Orion by 70.6% in the 2nd quarter. Allworth Financial LP now owns 4,235 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 1,753 shares in the last quarter. Versant Capital Management Inc increased its stake in Orion by 26.4% during the second quarter. Versant Capital Management Inc now owns 9,925 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 2,072 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Orion by 48.0% during the first quarter. Glenmede Trust Co. NA now owns 16,694 shares of the specialty chemicals company’s stock worth $109,000 after purchasing an additional 5,418 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of Orion during the second quarter worth about $37,000. Finally, Legal & General Group Plc purchased a new position in shares of Orion in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 94.33% of the company’s stock.

About Orion

Orion SA (NYSE: OEC) is a specialty chemicals company that develops, manufactures and sells carbon-based products. Its portfolio includes specialty and high-performance carbon black, conductive additives and other engineered materials used in applications such as coatings, plastics, inks, adhesives, batteries, tires and rubber products.

The company serves customers across a range of industries, including automotive, transportation, construction, electronics, energy storage and consumer products.