Orion (NYSE:OEC) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Orion (NYSE:OEC) from an underweight rating to a neutral rating in a research note released on Tuesday morning, Marketbeat Ratings reports.

OEC has been the subject of several other research reports. Wall Street Zen raised Orion from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. UBS Group decreased their price objective on shares of Orion from $8.00 to $6.50 and set a “neutral” rating on the stock in a report on Monday, October 5th. Zacks Research upgraded shares of Orion from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Jefferies Financial Group assumed coverage on shares of Orion in a research report on Friday, November 6th. They issued a “strong-buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Orion currently has an average rating of “Hold” and a consensus price target of $5.08.

Orion Price Performance

OEC opened at $3.96 on Tuesday. Orion has a 12-month low of $3.87 and a 12-month high of $8.64. The business has a 50 day moving average of $5.51 and a 200-day moving average of $6.29. The company has a quick ratio of 0.65, a current ratio of 1.06 and a debt-to-equity ratio of 1.64.

Orion (NYSE:OEC) last issued its earnings results on Wednesday, November 4th. The specialty chemicals company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The business had revenue of $472.80 million for the quarter, compared to the consensus estimate of $445.99 million. Orion had a negative return on equity of 4.05% and a negative net margin of 1.75%. As a group, research analysts predict that Orion will post 0.08 earnings per share for the current year.

Orion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 19th. Stockholders of record on Friday, December 11th will be given a $0.0207 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.08 annualized dividend and a dividend yield of 2.1%. Orion’s dividend payout ratio is presently -13.79%.

Institutional Trading of Orion

Several hedge funds have recently added to or reduced their stakes in the company. Ieq Capital LLC increased its position in Orion by 3.0% during the third quarter. Ieq Capital LLC now owns 195,775 shares of the specialty chemicals company’s stock worth $1,100,000 after acquiring an additional 5,674 shares during the period. Focus Advisor Solutions LLC acquired a new stake in Orion in the 3rd quarter worth about $59,000. Diversified Trust Co acquired a new stake in Orion in the 3rd quarter worth about $63,000. CenterBook Partners LP acquired a new stake in Orion in the 3rd quarter worth about $127,000. Finally, Vise Technologies Inc. raised its stake in Orion by 52.7% in the 3rd quarter. Vise Technologies Inc. now owns 18,736 shares of the specialty chemicals company’s stock worth $105,000 after purchasing an additional 6,465 shares in the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Company Profile

Orion S.A. is a global specialty chemicals company that manufactures carbon black, a fine carbon-based material used to add color and performance properties to products. Its offerings include specialty carbon black for applications such as coatings, printing inks, plastics and conductive materials, as well as rubber carbon black used in tires and other rubber products. The company serves customers across a range of industries and operates production facilities and commercial operations in the Americas, Europe, Africa and Asia.