Mizuho Raises Orion (NYSE:OEC) Price Target to $26.00

Orion (NYSE:OEC) had its target price lifted by Mizuho from $25.00 to $26.00 in a research note published on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the specialty chemicals company’s stock.

Several other equities analysts also recently commented on OEC. UBS Group lowered their price target on Orion from $33.00 to $32.00 and set a buy rating on the stock in a report on Thursday, January 11th. StockNews.com upgraded Orion from a hold rating to a buy rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Orion has a consensus rating of Moderate Buy and a consensus price target of $28.00.

Orion Price Performance

Shares of OEC opened at $23.79 on Friday. The firm has a market cap of $1.39 billion, a PE ratio of 16.07 and a beta of 1.62. The firm’s 50 day moving average price is $23.42 and its 200 day moving average price is $23.53. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.85 and a current ratio of 1.45. Orion has a twelve month low of $19.32 and a twelve month high of $28.48.

Orion (NYSE:OEC) last issued its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.11). The business had revenue of $502.90 million for the quarter, compared to the consensus estimate of $506.38 million. Orion had a net margin of 4.64% and a return on equity of 21.07%. During the same period in the previous year, the business posted $0.74 EPS. Orion’s revenue was up .4% compared to the same quarter last year. As a group, research analysts expect that Orion will post 2.15 EPS for the current fiscal year.

Orion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be paid a $0.021 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.08 annualized dividend and a dividend yield of 0.35%. Orion’s payout ratio is 5.41%.

Institutional Investors Weigh In On Orion

Several hedge funds and other institutional investors have recently modified their holdings of OEC. Grizzlyrock Capital LLC acquired a new stake in shares of Orion in the fourth quarter worth $23,586,000. Victory Capital Management Inc. grew its stake in shares of Orion by 1,355.0% in the fourth quarter. Victory Capital Management Inc. now owns 687,659 shares of the specialty chemicals company’s stock worth $19,069,000 after acquiring an additional 640,398 shares during the last quarter. Schroder Investment Management Group bought a new position in Orion in the fourth quarter worth $17,174,000. Jade Capital Advisors LLC lifted its position in Orion by 420.4% in the fourth quarter. Jade Capital Advisors LLC now owns 328,041 shares of the specialty chemicals company’s stock worth $9,097,000 after purchasing an additional 265,000 shares during the period. Finally, Invesco Ltd. lifted its position in Orion by 22.2% in the third quarter. Invesco Ltd. now owns 1,291,485 shares of the specialty chemicals company’s stock worth $27,483,000 after purchasing an additional 234,888 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.

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.