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

Key Points

• Orion’s stock fell below its 50-day moving average, trading as low as $6.07 and last changing hands at $6.3450. The move comes amid a recent 4.2% gain noted in the article, but the technical backdrop remains weak.
• Analyst sentiment is mostly negative, with one Hold and four Sell ratings, giving the stock an average rating of “Strong Sell.” MarketBeat says the average price target is $5.92, even as UBS raised its target to $7.50 and kept a neutral rating.
• The company missed earnings expectations last quarter, posting EPS of -$0.11 versus the expected $0.07, though revenue came in above estimates at $459.5 million. Orion also announced a quarterly dividend of $0.0207 per share, payable October 7, for an annualized yield of about 1.3%.

Orion S.A. (NYSE:OEC - Get Free Report)'s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.91 and traded as low as $6.07. Orion shares last traded at $6.3450, with a volume of 462,675 shares trading hands.

Analysts Set New Price Targets

OEC has been the subject of several research analyst reports. UBS Group boosted their price objective on Orion from $7.00 to $7.50 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Orion in a report on Tuesday, April 21st. Zacks Research downgraded Orion from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Orion from a "sell" rating to a "hold" rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Strong Sell" and an average target price of $5.92.

Orion Stock Up 4.2%

The company has a current ratio of 1.00, a quick ratio of 0.62 and a debt-to-equity ratio of 1.75. The business's fifty day moving average price is $6.91 and its 200 day moving average price is $6.45. The company has a market capitalization of $357.79 million, a P/E ratio of -3.97 and a beta of 1.00.

Orion (NYSE:OEC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.18). The business had revenue of $459.50 million during the quarter, compared to analyst estimates of $434.31 million. Orion had a positive return on equity of 2.23% and a negative net margin of 4.98%. As a group, equities research analysts predict that Orion S.A. will post 0.1 earnings per share for the current fiscal year.

Orion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Monday, July 6th will be given a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, July 6th. Orion's dividend payout ratio (DPR) is -5.00%.

Institutional Trading of Orion

Several institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its holdings in shares of Orion by 430.9% during the fourth quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 4,757 shares during the period. Performa Ltd US LLC grew its holdings in shares of Orion by 690.0% in the 4th quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company's stock worth $42,000 after purchasing an additional 6,900 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Orion during the 4th quarter worth about $53,000. Blue Trust Inc. acquired a new stake in shares of Orion during the 1st quarter worth about $55,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Orion by 277.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,147 shares of the specialty chemicals company's stock valued at $59,000 after purchasing an additional 8,194 shares during the last quarter. Institutional investors and hedge funds own 94.33% of the company's stock.

Orion Company Profile

Orion Engineered Carbons SA, operating as Orion NYSE: OEC, is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.