Orion (NYSE:OEC) Shares Cross Below 50-Day Moving Average - What's Next?

Orion S.A. (NYSE:OEC - Get Free Report) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.09 and traded as low as $10.93. Orion shares last traded at $11.22, with a volume of 350,211 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. cut Orion from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $18.00 to $12.00 in a report on Thursday, April 24th. UBS Group lowered their target price on shares of Orion from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, May 8th.

Orion Stock Up 2.7%

The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $631.35 million, a PE ratio of 24.39 and a beta of 1.07. The firm has a 50-day moving average of $11.09 and a two-hundred day moving average of $12.94.

Orion (NYSE:OEC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.31). The firm had revenue of $477.70 million for the quarter, compared to analyst estimates of $486.06 million. Orion had a return on equity of 17.66% and a net margin of 1.44%. The business's revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities research analysts forecast that Orion S.A. will post 1.73 EPS for the current year.

Orion Dividend Announcement

The firm also recently declared a interim dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Monday, July 7th will be given a dividend of $0.0207 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 0.8%. Orion's dividend payout ratio (DPR) is 17.39%.

Institutional Investors Weigh In On Orion

Several large investors have recently made changes to their positions in OEC. Quarry LP purchased a new stake in Orion during the 1st quarter worth $59,000. Exchange Traded Concepts LLC lifted its stake in shares of Orion by 1,256.0% during the first quarter. Exchange Traded Concepts LLC now owns 6,007 shares of the specialty chemicals company's stock worth $78,000 after purchasing an additional 5,564 shares in the last quarter. CWM LLC boosted its position in shares of Orion by 831.7% in the first quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company's stock worth $86,000 after buying an additional 5,947 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Orion in the first quarter valued at about $137,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Orion in the fourth quarter valued at about $159,000. Institutional investors and hedge funds own 94.33% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.