Orion (NYSE:OEC) Reaches New 12-Month Low – Here’s Why

Orion S.A. (NYSE:OEC) hit a new 52-week low on Wednesday . The company traded as low as $15.45 and last traded at $15.46, with a volume of 288522 shares traded. The stock had previously closed at $16.19.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered 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. StockNews.com downgraded Orion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

Orion Stock Down 3.0 %

The firm has a 50 day simple moving average of $17.11 and a two-hundred day simple moving average of $20.91. 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 stock has a market capitalization of $894.66 million, a P/E ratio of 11.61 and a beta of 1.46.

Orion (NYSE:OEC) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.18). Orion had a net margin of 4.09% and a return on equity of 19.21%. The firm had revenue of $477.00 million during the quarter, compared to the consensus estimate of $491.14 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Orion S.A. will post 1.85 earnings per share for the current year.

Orion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Friday, December 13th will be paid a $0.021 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.55%. This is a boost from Orion’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, December 13th. Orion’s dividend payout ratio is presently 6.06%.

Insider Activity at Orion

In related news, CEO Corning F. Painter acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost 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. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other Orion news, Director Dan F. Smith purchased 2,500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $18.53 per share, for a total transaction of $46,325.00. Following the acquisition, the director now owns 78,772 shares in the company, valued at approximately $1,459,645.16. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Corning F. Painter purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $17.48 per share, with a total value of $349,600.00. Following the completion of the acquisition, the chief executive officer now owns 948,776 shares in the company, valued at approximately $16,584,604.48. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 47,500 shares of company stock worth $845,225 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Orion

Several large investors have recently made changes to their positions in the company. William Blair Investment Management LLC grew its stake in shares of Orion by 3.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,724,139 shares of the specialty chemicals company’s stock valued at $59,768,000 after buying an additional 99,613 shares during the period. Dimensional Fund Advisors LP lifted its position in Orion by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,877,706 shares of the specialty chemicals company’s stock valued at $41,197,000 after acquiring an additional 80,266 shares in the last quarter. Vanguard Group Inc. lifted its position in Orion by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 1,807,942 shares of the specialty chemicals company’s stock valued at $42,523,000 after acquiring an additional 77,952 shares in the last quarter. American Century Companies Inc. lifted its position in Orion by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 1,347,138 shares of the specialty chemicals company’s stock valued at $29,556,000 after acquiring an additional 210,990 shares in the last quarter. Finally, Divisar Capital Management LLC lifted its position in Orion by 7.3% in the 2nd quarter. Divisar Capital Management LLC now owns 805,082 shares of the specialty chemicals company’s stock valued at $17,663,000 after acquiring an additional 55,000 shares in the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.

About Orion

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.