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

Orion (NYSE:OEC) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

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

Orion Trading Up 5.9 %

OEC stock traded up $0.94 during midday trading on Tuesday, reaching $16.95. The company’s stock had a trading volume of 474,255 shares, compared to its average volume of 434,982. 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 has a 1 year low of $15.54 and a 1 year high of $28.48. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.80 and a current ratio of 1.39. The stock has a fifty day simple moving average of $18.85 and a two-hundred day simple moving average of $21.92.

Orion (NYSE:OEC) last posted its quarterly earnings results 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 company had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $491.14 million. Orion had a return on equity of 19.21% and a net margin of 4.09%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. On average, equities research analysts predict that Orion will post 1.85 EPS for the current year.

Insider Activity

In other Orion news, Director Dan F. Smith acquired 2,500 shares of Orion stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $18.53 per share, with a total value of $46,325.00. Following the completion of the purchase, the director now directly owns 78,772 shares of the company’s stock, valued at approximately $1,459,645.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dan F. Smith purchased 2,500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $18.53 per share, with a total value of $46,325.00. Following the completion of the transaction, the director now owns 78,772 shares in the company, valued at approximately $1,459,645.16. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Glajch acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $18.16 per share, for a total transaction of $272,400.00. Following the transaction, the chief financial officer now owns 101,855 shares in the company, valued at $1,849,686.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 47,500 shares of company stock worth $845,225. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Orion

A number of large investors have recently made changes to their positions in OEC. Oppenheimer & Co. Inc. increased its position in Orion by 1.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 29,600 shares of the specialty chemicals company’s stock valued at $696,000 after buying an additional 550 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Orion by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,371 shares of the specialty chemicals company’s stock valued at $754,000 after purchasing an additional 625 shares during the last quarter. Inspire Investing LLC boosted its stake in Orion by 4.8% in the 2nd quarter. Inspire Investing LLC now owns 16,040 shares of the specialty chemicals company’s stock worth $352,000 after purchasing an additional 738 shares in the last quarter. ProShare Advisors LLC grew its position in Orion by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 9,956 shares of the specialty chemicals company’s stock worth $234,000 after purchasing an additional 783 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Orion by 7.7% during the 2nd quarter. Mackenzie Financial Corp now owns 11,949 shares of the specialty chemicals company’s stock valued at $262,000 after purchasing an additional 850 shares in the last quarter. 94.33% of the stock is 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.