NFC Investments LLC cut its holdings in OCI Partners LP (NYSE:OCIP) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 350,228 shares of the basic materials company’s stock after selling 34,998 shares during the quarter. OCI Partners makes up about 1.1% of NFC Investments LLC’s holdings, making the stock its 23rd biggest holding. NFC Investments LLC owned 0.40% of OCI Partners worth $3,100,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of OCI Partners in the 1st quarter worth about $440,000. Quinn Opportunity Partners LLC grew its position in shares of OCI Partners by 32.1% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock worth $495,000 after buying an additional 13,600 shares during the period. Renaissance Technologies LLC grew its position in shares of OCI Partners by 13.9% in the 1st quarter. Renaissance Technologies LLC now owns 60,608 shares of the basic materials company’s stock worth $606,000 after buying an additional 7,418 shares during the period. Bard Associates Inc. grew its position in shares of OCI Partners by 1.0% in the 2nd quarter. Bard Associates Inc. now owns 144,400 shares of the basic materials company’s stock worth $1,278,000 after buying an additional 1,500 shares during the period. Finally, Cowen Inc. grew its position in shares of OCI Partners by 117.9% in the 2nd quarter. Cowen Inc. now owns 208,420 shares of the basic materials company’s stock worth $1,845,000 after buying an additional 112,750 shares during the period. 14.98% of the stock is currently owned by hedge funds and other institutional investors.
OCI Partners LP (OCIP) remained flat at $7.85 during mid-day trading on Friday. The stock had a trading volume of 760 shares. The company’s market capitalization is $682.93 million. The company’s 50-day moving average price is $8.17 and its 200 day moving average price is $8.72. OCI Partners LP has a one year low of $4.95 and a one year high of $10.35.
OCI Partners (NYSE:OCIP) last posted its earnings results on Monday, August 7th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). OCI Partners had a negative net margin of 5.60% and a negative return on equity of 10.52%. The company had revenue of $73.97 million during the quarter. Analysts anticipate that OCI Partners LP will post $0.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.48 annualized dividend and a yield of 6.11%. OCI Partners’s dividend payout ratio (DPR) is presently -252.63%.
A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of OCI Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th. Citigroup Inc. set a $7.00 target price on shares of OCI Partners and gave the stock a “sell” rating in a research report on Monday, August 14th. Finally, ValuEngine raised shares of OCI Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th.
In related news, insider Nathaniel A. Gregory bought 10,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were bought at an average price of $8.35 per share, for a total transaction of $83,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at $83,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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OCI Partners Company Profile
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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