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.

Orion S.A. (NYSE:OEC - Get Free Report)'s stock price 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 traded.

Analysts Set New Price Targets

OEC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $9.00 target price (down from $10.00) on shares of Orion in a research report on Monday. Mizuho decreased their target price on Orion from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Finally, UBS Group decreased their target price on Orion from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Orion Trading Down 0.7%

The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.64 and a current ratio of 1.10. The stock's fifty day moving average is $10.71 and its 200 day moving average is $11.95. The stock has a market cap of $600.58 million, a P/E ratio of 39.61 and a beta of 1.10.

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

Orion Announces Dividend

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

Institutional Trading of Orion

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Orion in the first quarter worth about $59,000. Exchange Traded Concepts LLC lifted its stake in 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 purchasing an additional 5,564 shares during the last quarter. CWM LLC lifted its stake in 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 purchasing an additional 5,947 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Orion in the fourth quarter worth about $159,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Orion during the first quarter worth approximately $137,000. Institutional investors 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.