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

Orion S.A. (NYSE:OEC) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OEC. Wall Street Zen raised Orion from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. Zacks Research cut Orion from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a research report on Tuesday, April 21st. Finally, UBS Group boosted their price objective on Orion from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $5.92.

Orion Price Performance

The company has a debt-to-equity ratio of 1.75, a current ratio of 1.00 and a quick ratio of 0.62. The company’s 50 day moving average price is $6.91 and its 200 day moving average price is $6.45. The firm has a market capitalization of $357.79 million, a P/E ratio of -3.97 and a beta of 1.00.

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

Orion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Monday, July 6th will be given a dividend of $0.0207 per share. The ex-dividend date is Monday, July 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.3%. Orion’s payout ratio is presently -5.00%.

Hedge Funds Weigh In On Orion

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Orion by 361.3% in the fourth quarter. AQR Capital Management LLC now owns 874,279 shares of the specialty chemicals company’s stock valued at $4,616,000 after acquiring an additional 684,749 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Orion by 190.0% during the 3rd quarter. Verition Fund Management LLC now owns 582,141 shares of the specialty chemicals company’s stock valued at $4,413,000 after acquiring an additional 381,388 shares during the last quarter. CastleKnight Management LP lifted its stake in shares of Orion by 376.2% in the 4th quarter. CastleKnight Management LP now owns 471,941 shares of the specialty chemicals company’s stock valued at $2,492,000 after purchasing an additional 372,841 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Orion in the 4th quarter valued at $1,910,000. Finally, JB Capital Partners LP bought a new position in shares of Orion in the 4th quarter worth $1,769,000. Institutional investors own 94.33% of the company’s stock.

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.