Orion (NYSE:OEC) Releases FY 2024 Earnings Guidance

Orion (NYSE:OEC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.650-1.750 for the period, compared to the consensus EPS estimate of 1.820. The company issued revenue guidance of -. Orion also updated its FY24 guidance to $1.65-1.75 EPS.

Orion Stock Down 1.4 %

Shares of OEC traded down $0.23 on Thursday, reaching $16.43. The company’s stock had a trading volume of 501,337 shares, compared to its average volume of 434,074. Orion has a twelve month low of $14.94 and a twelve month high of $28.48. The stock has a market capitalization of $958.85 million, a PE ratio of 12.45 and a beta of 1.48. The company has a current ratio of 1.39, a quick ratio of 0.80 and a debt-to-equity ratio of 1.31. The firm has a fifty day moving average of $16.68 and a 200-day moving average of $20.36.

Orion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Friday, December 13th will be paid a $0.021 dividend. The ex-dividend date is Friday, December 13th. This is an increase from Orion’s previous quarterly dividend of $0.02. This represents a $0.08 annualized dividend and a dividend yield of 0.51%. Orion’s dividend payout ratio is 6.06%.

Wall Street Analyst Weigh In

OEC has been the topic of several analyst reports. StockNews.com cut Orion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective on shares of Orion from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th.

Insiders Place Their Bets

In other Orion news, Director Dan F. Smith acquired 2,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were acquired at an average price of $18.53 per share, with a total value of $46,325.00. Following the completion of the transaction, the director now owns 78,772 shares in the company, valued at approximately $1,459,645.16. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Corning F. Painter bought 10,000 shares of Orion stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $17.69 per share, with a total value of $176,900.00. Following the transaction, the chief executive officer now directly owns 958,776 shares of the company’s stock, valued at approximately $16,960,747.44. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dan F. Smith purchased 2,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $18.53 per share, for a total transaction of $46,325.00. Following the acquisition, the director now directly owns 78,772 shares in the company, valued at $1,459,645.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.20% 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.