Orion (NYSE:OEC) Shares Gap Down - Here's What Happened

Key Points

• Orion S.A. (NYSE:OEC) experienced a significant drop in share price, opening at $10.03 after closing at $10.53, with the stock last trading at $10.15.
• Analysts have lowered target prices for Orion, with JPMorgan setting a target of $9.00 and Mizuho reducing their target to $10.00.
• The company reported a net margin of 0.82% and earnings per share of $0.32, missing the consensus estimate of $0.36 by $0.04.

Shares of Orion S.A. (NYSE:OEC - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $10.53, but opened at $10.03. Orion shares last traded at $10.15, with a volume of 136,323 shares trading hands.

Wall Street Analyst Weigh In

OEC has been the topic of a number of research reports. Mizuho cut their target price on shares of Orion from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Zacks Research raised shares of Orion to a "strong sell" rating in a research note on Tuesday. UBS Group dropped their price target on shares of Orion from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $9.00 price target (down previously from $10.00) on shares of Orion in a research note on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.00.

Orion Stock Performance

The stock has a market capitalization of $564.87 million, a P/E ratio of 37.26 and a beta of 1.10. The company's 50-day moving average is $10.69 and its two-hundred day moving average is $11.93. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 1.46.

Orion (NYSE:OEC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $466.40 million during the quarter, compared to analyst estimates of $475.77 million. Orion had a return on equity of 16.67% and a net margin of 0.82%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, sell-side analysts anticipate that Orion S.A. will post 1.73 EPS for the current fiscal year.

Orion Announces Dividend

The firm also recently announced a interim dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Monday, July 7th will be paid a $0.0207 dividend. The ex-dividend date is Monday, July 7th. This represents a yield of 80.0%. Orion's payout ratio is 29.63%.

Institutional Trading of Orion

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Orion in the first quarter valued at approximately $59,000. Exchange Traded Concepts LLC lifted its stake in shares of Orion by 1,256.0% in the first quarter. Exchange Traded Concepts LLC now owns 6,007 shares of the specialty chemicals company's stock worth $78,000 after buying an additional 5,564 shares during the last quarter. CWM LLC lifted its stake 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Orion in the first quarter worth $137,000. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Orion by 18.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,687 shares of the specialty chemicals company's stock worth $144,000 after buying an additional 2,112 shares during the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.

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.