Orion (NYSE:OEC) Issues Earnings Results

Orion (NYSE:OEC) announced its quarterly earnings data on Thursday. The specialty chemicals company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.18), Briefing.com reports. Orion had a net margin of 4.64% and a return on equity of 21.07%. The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $491.14 million. During the same period last year, the business posted $0.53 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Orion updated its FY 2024 guidance to 1.750-1.950 EPS.

Orion Stock Performance

Orion stock traded down $5.18 during mid-day trading on Friday, reaching $17.86. 1,777,222 shares of the company’s stock were exchanged, compared to its average volume of 388,448. The firm has a market capitalization of $1.04 billion, a PE ratio of 12.07 and a beta of 1.53. The business’s fifty day simple moving average is $23.13 and its 200 day simple moving average is $23.39. The company has a quick ratio of 0.85, a current ratio of 1.45 and a debt-to-equity ratio of 1.36. Orion has a one year low of $17.13 and a one year high of $28.48.

Orion Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, July 1st will be issued a dividend of $0.0207 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.08 dividend on an annualized basis and a yield of 0.46%. Orion’s dividend payout ratio (DPR) is currently 5.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OEC. Mizuho raised their target price on Orion from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. StockNews.com upgraded Orion from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Orion currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

Insider Buying and Selling at Orion

In other Orion news, VP Sandra Niewiem sold 8,305 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $24.21, for a total value of $201,064.05. Following the sale, the vice president now directly owns 14,099 shares in the company, valued at $341,336.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Carlos Quinones bought 4,000 shares of the stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $23.51 per share, for a total transaction of $94,040.00. Following the completion of the purchase, the vice president now directly owns 69,702 shares in the company, valued at approximately $1,638,694.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sandra Niewiem sold 8,305 shares of Orion stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $24.21, for a total value of $201,064.05. Following the completion of the transaction, the vice president now owns 14,099 shares of the company’s stock, valued at $341,336.79. The disclosure for this sale can be found here. Corporate insiders own 6.30% 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.