Orion (NYSE:OEC) Shares Cross Above Fifty Day Moving Average – Here’s Why

Orion S.A. (NYSE:OEC)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.75 and traded as high as $7.28. Orion shares last traded at $7.19, with a volume of 389,947 shares.

Analysts Set New Price Targets

OEC has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research note on Thursday, January 22nd. Mizuho set a $6.00 price objective on Orion in a report on Monday, October 20th. Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. decreased their target price on Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a report on Friday, November 28th. Finally, UBS Group increased their price target on shares of Orion from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $5.67.

Orion Stock Up 2.0%

The stock has a market cap of $403.72 million, a PE ratio of -12.40 and a beta of 1.06. The business has a 50 day moving average price of $5.75 and a 200 day moving average price of $7.06. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 1.69.

Institutional Trading of Orion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OEC. Penn Capital Management Company LLC acquired a new stake in shares of Orion during the 4th quarter valued at about $310,000. Mraz Amerine & Associates Inc. boosted its position in Orion by 95.4% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 32,655 shares of the specialty chemicals company’s stock worth $172,000 after purchasing an additional 15,940 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Orion by 8.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 332,594 shares of the specialty chemicals company’s stock valued at $1,756,000 after purchasing an additional 25,152 shares during the period. ProShare Advisors LLC acquired a new stake in Orion in the 4th quarter valued at $53,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in Orion by 16.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,340 shares of the specialty chemicals company’s stock valued at $65,000 after purchasing an additional 1,742 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.

About Orion

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.