Orion (NYSE:OEC) Lifted to “Buy” at StockNews.com

Orion (NYSE:OEC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Separately, JPMorgan Chase & Co. cut their price target on Orion from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

Orion Stock Performance

Shares of Orion stock traded up $0.94 on Tuesday, reaching $16.95. 474,255 shares of the stock were exchanged, compared to its average volume of 434,982. Orion has a twelve month low of $15.54 and a twelve month high of $28.48. The business has a 50 day moving average price of $18.85 and a two-hundred day moving average price of $21.92. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $988.32 million, a price-to-earnings ratio of 11.45 and a beta of 1.47.

Orion (NYSE:OEC) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.18). The business had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $491.14 million. Orion had a net margin of 4.09% and a return on equity of 19.21%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Analysts anticipate that Orion will post 1.85 earnings per share for the current fiscal year.

Insider Activity at Orion

In other news, Director Dan F. Smith purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $18.53 per share, for a total transaction of $46,325.00. Following the completion of the transaction, the director now owns 78,772 shares in the company, valued at $1,459,645.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Orion news, Director Dan F. Smith purchased 2,500 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average price of $18.53 per share, for a total transaction of $46,325.00. Following the completion of the transaction, the director now owns 78,772 shares of the company’s stock, valued at approximately $1,459,645.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Corning F. Painter acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $17.48 per share, with a total value of $349,600.00. Following the completion of the transaction, the chief executive officer now directly owns 948,776 shares of the company’s stock, valued at $16,584,604.48. The disclosure for this purchase can be found here. Insiders bought a total of 47,500 shares of company stock worth $845,225 in the last three months. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Orion

Institutional investors have recently modified their holdings of the stock. CWM LLC lifted its position in shares of Orion by 207.0% in the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 1,412 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Orion in the 2nd quarter valued at $54,000. Lazard Asset Management LLC boosted its stake in Orion by 1,375.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock worth $89,000 after purchasing an additional 3,534 shares during the last quarter. Mendota Financial Group LLC purchased a new stake in shares of Orion during the first quarter worth $104,000. Finally, Quarry LP raised its position in shares of Orion by 76.9% in the second quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 2,076 shares during the last quarter. Institutional investors and hedge funds 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.