Cambiar Investors LLC trimmed its holdings in Orion Engineered Carbons SA (NYSE:OEC) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,826 shares of the specialty chemicals company’s stock after selling 13,101 shares during the quarter. Cambiar Investors LLC owned approximately 0.20% of Orion Engineered Carbons worth $1,952,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ancora Advisors LLC purchased a new stake in shares of Orion Engineered Carbons in the second quarter worth approximately $9,804,000. Comerica Bank raised its holdings in shares of Orion Engineered Carbons by 26.5% in the second quarter. Comerica Bank now owns 37,235 shares of the specialty chemicals company’s stock worth $693,000 after buying an additional 7,795 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Orion Engineered Carbons in the second quarter worth approximately $274,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Orion Engineered Carbons in the second quarter worth approximately $28,000. Finally, Bank of Montreal Can increased its holdings in Orion Engineered Carbons by 255.7% during the 2nd quarter. Bank of Montreal Can now owns 6,918 shares of the specialty chemicals company’s stock worth $148,000 after purchasing an additional 4,973 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.
OEC has been the topic of several research reports. TheStreet downgraded Orion Engineered Carbons from a “b-” rating to a “c+” rating in a report on Tuesday, August 6th. Loop Capital downgraded Orion Engineered Carbons from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $29.00 to $17.00 in a report on Monday, August 5th. Zacks Investment Research upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group reduced their price objective on Orion Engineered Carbons from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.60.
OEC opened at $16.40 on Friday. The stock’s fifty day moving average is $15.86 and its two-hundred day moving average is $17.88. The company has a market capitalization of $976.11 million, a P/E ratio of 7.42, a PEG ratio of 0.89 and a beta of 1.29. Orion Engineered Carbons SA has a 52 week low of $12.10 and a 52 week high of $28.51. The company has a quick ratio of 1.23, a current ratio of 1.77 and a debt-to-equity ratio of 3.81.
Orion Engineered Carbons (NYSE:OEC) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $399.02 million for the quarter, compared to analysts’ expectations of $391.68 million. Orion Engineered Carbons had a return on equity of 71.44% and a net margin of 5.64%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities analysts anticipate that Orion Engineered Carbons SA will post 1.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.80 annualized dividend and a yield of 4.88%. Orion Engineered Carbons’s payout ratio is currently 36.20%.
Orion Engineered Carbons Company Profile
Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.
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