Orion’s (OEC) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Orion (NYSE:OEC) in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a $9.00 price target on the specialty chemicals company’s stock, down from their previous price target of $10.00.

OEC has been the topic of a number of other research reports. Mizuho dropped their target price on Orion from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. UBS Group dropped their target price on Orion from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Orion Price Performance

Shares of OEC opened at $10.78 on Monday. The company has a market capitalization of $605.30 million, a price-to-earnings ratio of 39.93 and a beta of 1.10. Orion has a fifty-two week low of $9.03 and a fifty-two week high of $19.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.10 and a quick ratio of 0.64. The business’s 50-day moving average is $10.73 and its 200-day moving average is $11.98.

Orion (NYSE:OEC) last issued its earnings results on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $466.40 million during the quarter, compared to analyst estimates of $475.77 million. Orion had a net margin of 0.82% and a return on equity of 16.67%. Orion’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Equities research analysts expect that Orion will post 1.73 EPS for the current fiscal year.

Orion Announces Dividend

The company also recently disclosed a interim dividend, which will be paid on Wednesday, October 8th. Investors of record on Monday, July 7th will be issued a $0.0207 dividend. The ex-dividend date is Monday, July 7th. This represents a yield of 80.0%. Orion’s dividend payout ratio is currently 29.63%.

Hedge Funds Weigh In On Orion

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Orion during the first quarter valued at approximately $59,000. Exchange Traded Concepts LLC grew its holdings in Orion by 1,256.0% during the first quarter. Exchange Traded Concepts LLC now owns 6,007 shares of the specialty chemicals company’s stock valued at $78,000 after purchasing an additional 5,564 shares during the last quarter. CWM LLC grew its holdings in Orion by 831.7% during the first quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company’s stock valued at $86,000 after purchasing an additional 5,947 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Orion during the first quarter valued at approximately $137,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Orion by 18.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,687 shares of the specialty chemicals company’s stock valued at $144,000 after purchasing an additional 2,112 shares during the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.

Orion Company Profile

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.