Orion (NYSE:OEC) Downgraded by StockNews.com to “Hold”

Orion (NYSE:OEC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, JPMorgan Chase & Co. decreased their price objective on 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 2.6 %

Shares of NYSE OEC opened at $17.34 on Wednesday. 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 cap of $1.01 billion, a PE ratio of 11.72 and a beta of 1.47. The company’s fifty day simple moving average is $18.25 and its 200 day simple moving average is $21.74. Orion has a 12-month low of $15.54 and a 12-month high of $28.48.

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

Insider Buying and Selling

In other news, CEO Corning F. Painter bought 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $17.48 per share, for a total transaction of $349,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 948,776 shares in the company, valued at approximately $16,584,604.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Orion news, CFO Jeffrey Glajch purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $18.16 per share, with a total value of $272,400.00. Following the completion of the transaction, the chief financial officer now owns 101,855 shares of the company’s stock, valued at approximately $1,849,686.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Corning F. Painter purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $17.48 per share, for a total transaction of $349,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 948,776 shares of the company’s stock, valued at approximately $16,584,604.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 47,500 shares of company stock worth $845,225. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orion

Large investors have recently made changes to their positions in the business. CWM LLC grew its position in shares of Orion by 207.0% during the 2nd 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 during the period. DekaBank Deutsche Girozentrale purchased a new position in Orion in the second quarter valued at approximately $54,000. Lazard Asset Management LLC grew its holdings in Orion by 1,375.1% during the first quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock valued at $89,000 after purchasing an additional 3,534 shares during the period. Quarry LP increased its position in Orion by 76.9% in the second quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 2,076 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Orion in the second quarter worth $140,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

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.