Orion (NYSE:OEC) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Orion (NYSE:OEC) from a neutral rating to an overweight rating in a research report sent to investors on Monday, MarketBeat.com reports. The firm currently has $21.00 price target on the specialty chemicals company’s stock, up from their previous price target of $20.00.

Separately, StockNews.com downgraded shares of Orion from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

Orion Trading Up 0.5 %

Shares of NYSE:OEC opened at $17.29 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.80 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $997.98 million, a PE ratio of 32.70 and a beta of 1.48. Orion has a 12-month low of $14.94 and a 12-month high of $28.48. The business’s fifty day simple moving average is $16.59 and its 200-day simple moving average is $20.15.

Orion (NYSE:OEC) last announced its earnings results on Thursday, November 7th. The specialty chemicals company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). The firm had revenue of $463.40 million during the quarter, compared to the consensus estimate of $489.01 million. Orion had a return on equity of 18.97% and a net margin of 1.67%. As a group, equities research analysts predict that Orion will post 1.7 earnings per share for the current fiscal year.

Orion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, December 13th will be given a $0.021 dividend. This is a positive change from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, December 13th. Orion’s dividend payout ratio (DPR) is presently 15.09%.

Insider Buying and Selling

In other news, CEO Corning F. Painter acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $17.69 per share, with a total value of $176,900.00. Following the completion of the acquisition, the chief executive officer now owns 958,776 shares of the company’s stock, valued at approximately $16,960,747.44. This trade represents a 1.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Orion

A number of large investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Orion by 207.0% in the 2nd quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 1,412 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Orion in the second quarter valued at $54,000. Lazard Asset Management LLC grew its position in Orion by 1,375.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,791 shares of the specialty chemicals company’s stock worth $89,000 after purchasing an additional 3,534 shares during the period. nVerses Capital LLC purchased a new position in shares of Orion during the 3rd quarter valued at about $69,000. Finally, Quarry LP lifted its holdings in shares of Orion by 76.9% in the 2nd quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 2,076 shares during the period. Hedge funds and other institutional investors 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.