Orion (NYSE:OEC) Posts Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Orion (NYSE:OEC) released its quarterly earnings data on Wednesday. The specialty chemicals company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18), FiscalAI reports. Orion had a positive return on equity of 2.23% and a negative net margin of 4.98%.The business had revenue of $459.50 million during the quarter, compared to the consensus estimate of $434.31 million.

Orion Price Performance

NYSE OEC traded up $0.47 during trading on Friday, hitting $7.63. 497,256 shares of the stock traded hands, compared to its average volume of 481,573. The company has a quick ratio of 0.59, a current ratio of 1.00 and a debt-to-equity ratio of 1.75. Orion has a 12-month low of $4.34 and a 12-month high of $12.10. The firm has a 50-day simple moving average of $6.20 and a 200-day simple moving average of $5.82. The company has a market capitalization of $430.31 million, a P/E ratio of -4.77 and a beta of 0.98.

Orion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.0207 per share. This represents a $0.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, June 10th. Orion’s dividend payout ratio (DPR) is currently -5.00%.

Wall Street Analyst Weigh In

OEC has been the topic of a number of research analyst reports. Mizuho boosted their price target on Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a report on Wednesday, February 18th. Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. UBS Group lifted their price objective on shares of Orion from $7.00 to $7.50 and gave the company a “neutral” rating in a research report on Friday. Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Orion presently has an average rating of “Strong Sell” and a consensus price target of $5.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Orion in the 3rd quarter valued at about $387,000. Mercer Global Advisors Inc. ADV increased its position in shares of Orion by 31.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 72,571 shares of the specialty chemicals company’s stock valued at $383,000 after purchasing an additional 17,166 shares during the last quarter. Polymer Capital Management US LLC lifted its position in Orion by 28.4% in the third quarter. Polymer Capital Management US LLC now owns 50,458 shares of the specialty chemicals company’s stock worth $382,000 after buying an additional 11,160 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Orion in the fourth quarter valued at $238,000. Finally, Odyssean LLC purchased a new stake in shares of Orion in the fourth quarter valued at $186,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

About Orion

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.