Oppenheimer & Co. Inc. lifted its holdings in Orion Engineered Carbons SA (NYSE:OEC) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,000 shares of the specialty chemicals company’s stock after purchasing an additional 3,650 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.07% of Orion Engineered Carbons worth $719,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new stake in Orion Engineered Carbons during the 2nd quarter worth about $28,000. Nisa Investment Advisors LLC acquired a new stake in Orion Engineered Carbons during the 3rd quarter worth about $50,000. Quantamental Technologies LLC lifted its position in Orion Engineered Carbons by 130.9% during the 2nd quarter. Quantamental Technologies LLC now owns 5,079 shares of the specialty chemicals company’s stock worth $109,000 after acquiring an additional 2,879 shares during the period. Bank of Montreal Can lifted its position 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 acquiring an additional 4,973 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Orion Engineered Carbons during the 2nd quarter worth about $184,000. 95.30% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the company. UBS Group lifted their price target on Orion Engineered Carbons from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. ValuEngine cut Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Zacks Investment Research cut Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research report on Wednesday. Loop Capital cut Orion Engineered Carbons from a “buy” rating to a “hold” rating and lowered their price target for the stock from $29.00 to $17.00 in a research report on Monday, August 5th. Finally, TheStreet lowered Orion Engineered Carbons from a “b-” rating to a “c+” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.75.
NYSE OEC opened at $19.57 on Friday. The stock has a 50-day simple moving average of $16.82 and a two-hundred day simple moving average of $17.60. The firm has a market capitalization of $1.16 billion, a P/E ratio of 8.86, a PEG ratio of 1.07 and a beta of 1.32. Orion Engineered Carbons SA has a fifty-two week low of $12.10 and a fifty-two week high of $28.51. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.24 and a current ratio of 1.83.
Orion Engineered Carbons (NYSE:OEC) last released its quarterly earnings data on Thursday, October 31st. The specialty chemicals company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.04. The business had revenue of $370.20 million during the quarter, compared to analyst estimates of $405.34 million. Orion Engineered Carbons had a return on equity of 68.78% and a net margin of 5.74%. As a group, analysts forecast that Orion Engineered Carbons SA will post 1.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.09%. Orion Engineered Carbons’s payout ratio is currently 36.20%.
Orion Engineered Carbons 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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