Orion Engineered Carbons (NYSE:OEC) Shares Down 2.4%

Orion Engineered Carbons S.A. (NYSE:OECGet Rating) was down 2.4% on Friday . The company traded as low as $15.34 and last traded at $15.35. Approximately 6,779 shares traded hands during trading, a decline of 99% from the average daily volume of 472,566 shares. The stock had previously closed at $15.72.

A number of equities analysts have recently weighed in on OEC shares. Barclays lowered their target price on Orion Engineered Carbons from $17.00 to $16.00 in a research note on Tuesday, February 22nd. StockNews.com downgraded Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.75.

The firm has a market cap of $898.49 million, a price-to-earnings ratio of 6.66 and a beta of 1.62. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.51 and a quick ratio of 1.00. The stock has a 50-day moving average of $17.26 and a 200-day moving average of $17.29.

Orion Engineered Carbons (NYSE:OECGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The company had revenue of $484.50 million for the quarter, compared to analyst estimates of $433.84 million. Orion Engineered Carbons had a return on equity of 33.42% and a net margin of 8.60%. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, equities analysts expect that Orion Engineered Carbons S.A. will post 2.3 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 22nd will be issued a $0.021 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Tuesday, June 21st. Orion Engineered Carbons’s dividend payout ratio is presently 3.39%.

In other Orion Engineered Carbons news, CFO Jeffrey Glajch bought 5,000 shares of Orion Engineered Carbons stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $17.03 per share, with a total value of $85,150.00. Following the acquisition, the chief financial officer now owns 15,000 shares in the company, valued at approximately $255,450. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its holdings in shares of Orion Engineered Carbons by 36.7% during the 4th quarter. Lazard Asset Management LLC now owns 2,371 shares of the specialty chemicals company’s stock valued at $43,000 after acquiring an additional 636 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Orion Engineered Carbons by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,095 shares of the specialty chemicals company’s stock valued at $177,000 after acquiring an additional 789 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Orion Engineered Carbons by 6.8% during the 4th quarter. BNP Paribas Arbitrage SA now owns 12,945 shares of the specialty chemicals company’s stock valued at $238,000 after acquiring an additional 822 shares in the last quarter. UBS Group AG boosted its holdings in shares of Orion Engineered Carbons by 102.7% during the 3rd quarter. UBS Group AG now owns 2,663 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 1,349 shares in the last quarter. Finally, Isthmus Partners LLC boosted its holdings in shares of Orion Engineered Carbons by 1.7% during the 4th quarter. Isthmus Partners LLC now owns 96,676 shares of the specialty chemicals company’s stock valued at $1,775,000 after acquiring an additional 1,607 shares in the last quarter. 82.69% of the stock is currently owned by institutional investors.

Orion Engineered Carbons Company Profile (NYSE:OEC)

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.

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