Orion (NYSE:OEC) Sets New 52-Week Low After Earnings Miss

Orion S.A. (NYSE:OEC) shares reached a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $9.59 and last traded at $10.10, with a volume of 7003 shares trading hands. The stock had previously closed at $11.23.

The specialty chemicals company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.31). Orion had a return on equity of 20.94% and a net margin of 2.35%. The company had revenue of $477.70 million for the quarter, compared to analysts’ expectations of $486.06 million. During the same quarter in the prior year, the company earned $0.52 EPS. The company’s revenue was down 5.0% on a year-over-year basis.

Orion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, June 11th. Orion’s dividend payout ratio is presently 10.67%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OEC shares. UBS Group reduced their price objective on shares of Orion from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered shares of Orion from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $12.00 in a research report on Thursday, April 24th.

Insider Buying and Selling at Orion

In related news, VP Carlos Quinones bought 3,300 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $13.07 per share, with a total value of $43,131.00. Following the completion of the purchase, the vice president now directly owns 79,702 shares of the company’s stock, valued at $1,041,705.14. This trade represents a 4.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Orion

A number of institutional investors have recently made changes to their positions in OEC. Exchange Traded Concepts LLC raised its position 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 in the last quarter. CWM LLC raised its stake in shares of Orion by 831.7% during the first quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company’s stock worth $86,000 after acquiring an additional 5,947 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Orion in the 4th quarter worth approximately $159,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Orion in the 4th quarter valued at $171,000. Finally, Trexquant Investment LP bought a new position in shares of Orion during the 4th quarter valued at $206,000. Institutional investors own 94.33% of the company’s stock.

Orion Stock Performance

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.71 and a current ratio of 1.24. The company has a market cap of $588.53 million, a PE ratio of 13.93 and a beta of 1.20. The business’s 50-day moving average is $12.39 and its 200 day moving average is $14.59.

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.