Bridgefront Capital LLC Takes $138,000 Position in Orion Engineered Carbons S.A. (NYSE:OEC)

Bridgefront Capital LLC purchased a new stake in Orion Engineered Carbons S.A. (NYSE:OEC – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,302 shares of the specialty chemicals company’s stock, valued at approximately $138,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OEC. Lazard Asset Management LLC bought a new stake in shares of Orion Engineered Carbons in the 2nd quarter valued at about $26,000. Covestor Ltd bought a new stake in shares of Orion Engineered Carbons in the 1st quarter valued at about $48,000. Tower Research Capital LLC TRC increased its stake in shares of Orion Engineered Carbons by 149.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,158 shares of the specialty chemicals company’s stock valued at $69,000 after acquiring an additional 3,090 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Orion Engineered Carbons during the 1st quarter worth approximately $117,000. Finally, Spire Wealth Management bought a new stake in Orion Engineered Carbons during the 3rd quarter worth approximately $119,000. 91.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OEC shares. StockNews.com started coverage on Orion Engineered Carbons in a research note on Thursday. They set a “buy” rating for the company. TheStreet raised Orion Engineered Carbons from a “c+” rating to a “b-” rating in a research note on Tuesday, January 31st. UBS Group increased their target price on Orion Engineered Carbons from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, January 11th. Finally, Credit Suisse Group started coverage on Orion Engineered Carbons in a research note on Monday, March 13th. They set an “outperform” rating and a $31.00 target price for the company.

Orion Engineered Carbons Price Performance

Shares of OEC opened at $24.13 on Friday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 13.87 and a beta of 1.65. Orion Engineered Carbons S.A. has a twelve month low of $12.87 and a twelve month high of $26.91. The company has a 50 day moving average of $22.45 and a 200-day moving average of $18.67. The company has a quick ratio of 0.91, a current ratio of 1.41 and a debt-to-equity ratio of 1.43.

Orion Engineered Carbons (NYSE:OEC – Get Rating) last issued its quarterly earnings results on Friday, February 17th. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.10. The company had revenue of $462.10 million during the quarter, compared to analysts’ expectations of $441.89 million. Orion Engineered Carbons had a net margin of 5.23% and a return on equity of 28.89%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. As a group, equities research analysts forecast that Orion Engineered Carbons S.A. will post 2.58 EPS for the current fiscal year.

Orion Engineered Carbons Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Tuesday, March 21st will be paid a dividend of $0.0207 per share. The ex-dividend date of this dividend is Monday, March 20th. This represents a $0.08 annualized dividend and a dividend yield of 0.34%. Orion Engineered Carbons’s dividend payout ratio is currently 4.60%.

Insider Transactions at Orion Engineered Carbons

In related news, VP Carlos Quinones acquired 3,800 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $23.98 per share, with a total value of $91,124.00. Following the acquisition, the vice president now owns 52,335 shares in the company, valued at approximately $1,254,993.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jeffrey Glajch acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was bought at an average price of $23.82 per share, with a total value of $238,200.00. Following the acquisition, the chief financial officer now owns 60,666 shares in the company, valued at approximately $1,445,064.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Carlos Quinones acquired 3,800 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $23.98 per share, with a total value of $91,124.00. Following the acquisition, the vice president now owns 52,335 shares in the company, valued at approximately $1,254,993.30. The disclosure for this purchase can be found here. Company insiders own 1.23% of the company’s stock.

About Orion Engineered Carbons

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Orion Engineered Carbons SA engages in the production and supply of carbon black. It operates through the following segments: Specialty Carbon Black and Rubber Carbon Black. The Specialty Carbon Black segment manufactures specialty carbon black at multiple sites for a broad range of specialized applications.