Orion (NYSE:OEC) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Orion S.A. (NYSE:OEC) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.85 and traded as high as $7.78. Orion shares last traded at $7.7010, with a volume of 289,866 shares traded.

Analyst Ratings Changes

OEC has been the subject of a number of analyst reports. Mizuho increased their target price on Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a research note on Wednesday, February 18th. Wall Street Zen raised Orion from a “sell” rating to a “hold” rating in a research note on Thursday, April 9th. Zacks Research raised Orion from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a research note on Tuesday, April 21st. Finally, UBS Group raised their price objective on Orion from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Strong Sell” and an average price target of $5.92.

Orion Stock Up 0.1%

The stock has a market capitalization of $434.25 million, a PE ratio of -4.81 and a beta of 0.98. The firm has a 50 day moving average of $6.85 and a two-hundred day moving average of $6.02. The company has a current ratio of 1.00, a quick ratio of 0.62 and a debt-to-equity ratio of 1.75.

Orion (NYSE:OEC) last released its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.18). Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. The firm had revenue of $459.50 million during the quarter, compared to analysts’ expectations of $434.31 million. Equities research analysts anticipate that Orion S.A. will post 0.1 earnings per share for the current year.

Orion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.0207 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $0.08 annualized dividend and a yield of 1.1%. Orion’s dividend payout ratio (DPR) is presently -5.00%.

Hedge Funds Weigh In On Orion

Hedge funds have recently bought and sold shares of the stock. Quarry LP increased its position in Orion by 430.9% during the fourth quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 4,757 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Orion by 321.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company’s stock worth $77,000 after buying an additional 5,632 shares in the last quarter. Performa Ltd US LLC increased its position in Orion by 690.0% during the fourth quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 6,900 shares in the last quarter. Blue Trust Inc. purchased a new position in Orion during the first quarter worth $55,000. Finally, ProShare Advisors LLC purchased a new position in Orion during the fourth quarter worth $53,000. Hedge funds and other institutional investors 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.