StockNews.com Downgrades Orion (NYSE:OEC) to Hold

by · The Cerbat Gem

Orion (NYSE:OEC – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, JPMorgan Chase & Co. reduced their target price on shares of Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

Get Our Latest Analysis on OEC

Orion Stock Performance

Shares of NYSE OEC opened at $16.47 on Wednesday. Orion has a 12 month low of $15.54 and a 12 month high of $28.48. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The company has a market cap of $961.19 million, a P/E ratio of 11.13 and a beta of 1.47. The business’s 50 day moving average is $17.98 and its two-hundred day moving average is $21.67.

Orion (NYSE:OEC – Get Free Report) last announced its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.18). Orion had a return on equity of 19.21% and a net margin of 4.09%. The company had revenue of $477.00 million for the quarter, compared to the consensus estimate of $491.14 million. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Orion will post 1.85 EPS for the current year.

Insider Buying and Selling at Orion

In other Orion news, CEO Corning F. Painter acquired 20,000 shares of Orion stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $17.48 per share, with a total value of $349,600.00. Following the acquisition, the chief executive officer now owns 948,776 shares of the company’s stock, valued at $16,584,604.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Jeffrey Glajch acquired 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $18.16 per share, for a total transaction of $272,400.00. Following the completion of the purchase, the chief financial officer now directly owns 101,855 shares of the company’s stock, valued at approximately $1,849,686.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Corning F. Painter acquired 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $17.48 per share, with a total value of $349,600.00. Following the completion of the acquisition, the chief executive officer now owns 948,776 shares of the company’s stock, valued at approximately $16,584,604.48. The disclosure for this purchase can be found here. Insiders have acquired 47,500 shares of company stock valued at $845,225 in the last 90 days. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orion

Several large investors have recently made changes to their positions in OEC. CWM LLC boosted its position in Orion by 207.0% in the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 1,412 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Orion in the 2nd quarter worth approximately $54,000. Lazard Asset Management LLC boosted its holdings in shares of Orion by 1,375.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock worth $89,000 after acquiring an additional 3,534 shares in the last quarter. Quarry LP grew its position in Orion by 76.9% during the 2nd quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock worth $105,000 after acquiring an additional 2,076 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Orion during the 2nd quarter valued at $140,000. Institutional investors own 94.33% of the company’s stock.

Orion Company Profile

(Get Free Report)

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.

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