Orion (NYSE:OEC) Updates FY24 Earnings Guidance

Orion (NYSE:OEC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.65-1.75 for the period, compared to the consensus earnings per share estimate of $1.82.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Orion from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on shares of Orion from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Orion Stock Down 1.3 %

NYSE OEC traded down $0.22 during mid-day trading on Thursday, reaching $16.44. The stock had a trading volume of 501,337 shares, compared to its average volume of 434,074. Orion has a 1 year low of $14.94 and a 1 year high of $28.48. The stock has a market cap of $959.44 million, a PE ratio of 12.62 and a beta of 1.48. The company has a fifty day moving average price of $16.72 and a 200 day moving average price of $20.39. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.80.

Orion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, December 13th will be issued a $0.021 dividend. This is a positive change from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, December 13th. Orion’s payout ratio is presently 6.06%.

Insider Buying and Selling

In related news, CEO Corning F. Painter bought 10,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price of $17.69 per share, with a total value of $176,900.00. Following the transaction, the chief executive officer now owns 958,776 shares in the company, valued at approximately $16,960,747.44. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Corning F. Painter bought 10,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price of $17.69 per share, with a total value of $176,900.00. Following the transaction, the chief executive officer now owns 958,776 shares in the company, valued at approximately $16,960,747.44. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dan F. Smith bought 2,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $18.53 per share, with a total value of $46,325.00. Following the transaction, the director now owns 78,772 shares in the company, valued at $1,459,645.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.20% of the stock is owned by company insiders.

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.