Orion (NYSE:OEC) Stock Price Down 5.2% – Here’s Why

Shares of Orion S.A. (NYSE:OEC) were down 5.2% during trading on Friday . The company traded as low as $13.14 and last traded at $13.11. Approximately 203,604 shares changed hands during trading, a decline of 62% from the average daily volume of 532,535 shares. The stock had previously closed at $13.83.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OEC. JPMorgan Chase & Co. decreased their price target on shares of Orion from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. UBS Group decreased their target price on shares of Orion from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 20th.

Orion Trading Down 3.5 %

The stock’s 50 day moving average is $14.16 and its 200-day moving average is $15.88. The company has a market cap of $756.33 million, a P/E ratio of 17.80 and a beta of 1.52. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42.

Orion (NYSE:OEC) last posted its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Orion had a net margin of 2.35% and a return on equity of 20.94%. The firm had revenue of $434.20 million for the quarter, compared to analysts’ expectations of $437.03 million. Research analysts anticipate that Orion S.A. will post 1.73 earnings per share for the current fiscal year.

Orion Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 13th will be paid a $0.0207 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, March 13th. Orion’s dividend payout ratio is currently 10.67%.

Insider Activity

In other Orion news, VP Carlos Quinones bought 3,300 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $13.07 per share, with a total value of $43,131.00. Following the transaction, the vice president now owns 79,702 shares in the company, valued at $1,041,705.14. This represents a 4.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Orion

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Orion by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,760 shares of the specialty chemicals company’s stock valued at $517,000 after purchasing an additional 1,164 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Orion in the 3rd quarter worth $27,000. Franklin Resources Inc. grew its holdings in shares of Orion by 3.2% in the third quarter. Franklin Resources Inc. now owns 57,672 shares of the specialty chemicals company’s stock worth $984,000 after acquiring an additional 1,775 shares during the period. MetLife Investment Management LLC increased its position in Orion by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 35,294 shares of the specialty chemicals company’s stock valued at $557,000 after acquiring an additional 1,954 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in Orion by 9.2% in the fourth quarter. Inspire Investing LLC now owns 25,351 shares of the specialty chemicals company’s stock valued at $400,000 after acquiring an additional 2,138 shares during the period. Hedge funds and other institutional investors 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.