Orion (NYSE:OEC) Price Target Lowered to $18.00 at JPMorgan Chase & Co.

Orion (NYSE:OEC) had its price target cut by JPMorgan Chase & Co. from $21.00 to $18.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Separately, UBS Group dropped their price objective on Orion from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday.

Orion Trading Down 0.3 %

Shares of NYSE OEC opened at $15.11 on Friday. The business’s 50 day moving average is $14.96 and its two-hundred day moving average is $16.43. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.24 and a quick ratio of 0.71. Orion has a 1-year low of $13.32 and a 1-year high of $26.05. The stock has a market capitalization of $872.03 million, a P/E ratio of 20.14 and a beta of 1.50.

Orion (NYSE:OEC) last released its earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The firm had revenue of $434.20 million for the quarter, compared to analysts’ expectations of $437.03 million. Orion had a return on equity of 20.94% and a net margin of 2.35%. As a group, research analysts expect that Orion will post 1.73 EPS for the current year.

Institutional Trading of Orion

Several hedge funds and other institutional investors have recently made changes to their positions in OEC. Creative Planning purchased a new position in Orion in the 3rd quarter worth $490,000. Roubaix Capital LLC raised its stake in Orion by 68.2% in the 3rd quarter. Roubaix Capital LLC now owns 308,303 shares of the specialty chemicals company’s stock worth $5,491,000 after acquiring an additional 124,986 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Orion by 24.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 42,163 shares of the specialty chemicals company’s stock worth $751,000 after acquiring an additional 8,321 shares during the last quarter. GSA Capital Partners LLP raised its stake in Orion by 103.8% in the 3rd quarter. GSA Capital Partners LLP now owns 128,501 shares of the specialty chemicals company’s stock worth $2,289,000 after acquiring an additional 65,453 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Orion by 20.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company’s stock worth $21,001,000 after acquiring an additional 198,182 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

About Orion

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.