Orion (NYSE:OEC) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

Orion S.A. (NYSE:OEC)’s share 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 changing hands.

Analyst Ratings Changes

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

Orion Stock Performance

The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.62 and a current ratio of 1.00. The firm’s 50 day moving average is $6.90 and its 200-day moving average is $6.46. The firm has a market cap of $385.65 million, a price-to-earnings ratio of -4.27 and a beta of 1.00.

Orion (NYSE:OEC) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $459.50 million during the quarter, compared to the consensus estimate of $434.31 million. Sell-side analysts anticipate that Orion S.A. will post 0.1 earnings per share for the current fiscal year.

Orion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Monday, July 6th will be issued a dividend of $0.0207 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.2%. Orion’s dividend payout ratio is currently -5.00%.

Institutional Investors Weigh In On Orion

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Orion by 10.7% during the first quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company’s stock worth $3,661,000 after purchasing an additional 27,442 shares during the period. AQR Capital Management LLC raised its position in shares of Orion by 86.2% in the first quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company’s stock valued at $1,928,000 after purchasing an additional 69,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Orion by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock worth $438,000 after buying an additional 1,097 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Orion during the 1st quarter worth $137,000. Finally, Jane Street Group LLC grew its stake in Orion by 202.7% in the 1st quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company’s stock valued at $1,566,000 after buying an additional 81,079 shares during the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.

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.