Minneapolis Portfolio Management Group LLC Sells 29,552 Shares of Orion Engineered Carbons S.A. (NYSE:OEC)

Minneapolis Portfolio Management Group LLC cut its holdings in Orion Engineered Carbons S.A. (NYSE:OEC – Get Rating) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,066,025 shares of the specialty chemicals company’s stock after selling 29,552 shares during the period. Orion Engineered Carbons makes up approximately 4.6% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 7th biggest position. Minneapolis Portfolio Management Group LLC owned approximately 3.40% of Orion Engineered Carbons worth $32,085,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in Orion Engineered Carbons during the 2nd quarter valued at about $26,000. Covestor Ltd bought a new position in shares of Orion Engineered Carbons in the first quarter worth $48,000. Point72 Hong Kong Ltd bought a new position in Orion Engineered Carbons in the first quarter valued at $117,000. Cibc World Market Inc. purchased a new stake in Orion Engineered Carbons during the second quarter valued at about $162,000. Finally, Ronald Blue Trust Inc. purchased a new stake in Orion Engineered Carbons during the second quarter valued at about $176,000. 88.81% of the stock is owned by institutional investors.

Orion Engineered Carbons Price Performance

Shares of OEC opened at $18.89 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.96 and a current ratio of 1.44. The stock has a market capitalization of $1.15 billion, a PE ratio of 12.12 and a beta of 1.69. The company has a 50 day moving average price of $15.96 and a 200-day moving average price of $16.60. Orion Engineered Carbons S.A. has a fifty-two week low of $12.87 and a fifty-two week high of $20.63.

Orion Engineered Carbons Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Tuesday, January 3rd will be paid a $0.021 dividend. The ex-dividend date is Friday, December 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.44%. Orion Engineered Carbons’s payout ratio is currently 5.16%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Orion Engineered Carbons in a research note on Wednesday, October 12th. They set a “buy” rating for the company.

Orion Engineered Carbons Company Profile

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Orion Engineered Carbons SA, together with its subsidiaries, manufactures and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. 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 polymers, coatings, and battery electrodes.