Bank of New York Mellon Corp trimmed its position in Orion Engineered Carbons SA (NYSE:OEC) by 18.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,380 shares of the specialty chemicals company’s stock after selling 13,640 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of Orion Engineered Carbons worth $1,356,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Nationwide Fund Advisors bought a new position in shares of Orion Engineered Carbons during the 3rd quarter worth approximately $250,000. Northern Trust Corp grew its stake in shares of Orion Engineered Carbons by 15.7% in the second quarter. Northern Trust Corp now owns 11,721 shares of the specialty chemicals company’s stock valued at $234,000 after buying an additional 1,594 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Orion Engineered Carbons by 9.8% in the second quarter. Parametric Portfolio Associates LLC now owns 11,734 shares of the specialty chemicals company’s stock valued at $234,000 after buying an additional 1,046 shares in the last quarter. Sensato Investors LLC bought a new position in shares of Orion Engineered Carbons in the second quarter valued at $295,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Orion Engineered Carbons in the second quarter valued at $296,000. Institutional investors and hedge funds own 54.56% of the company’s stock.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Barclays lifted their target price on Orion Engineered Carbons from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 7th. KeyCorp reaffirmed a “buy” rating and issued a $24.00 price target on shares of Orion Engineered Carbons in a research note on Wednesday, October 4th. UBS Group boosted their price target on Orion Engineered Carbons from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. upgraded Orion Engineered Carbons from a “neutral” rating to an “overweight” rating and set a $29.00 target price on the stock in a research report on Monday, November 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $24.71.
Orion Engineered Carbons SA (NYSE OEC) opened at $27.70 on Thursday. The company has a quick ratio of 1.47, a current ratio of 2.08 and a debt-to-equity ratio of 8.95. Orion Engineered Carbons SA has a 12 month low of $17.15 and a 12 month high of $27.95. The stock has a market capitalization of $1,616.48, a P/E ratio of 23.68 and a beta of 0.54.
Orion Engineered Carbons (NYSE:OEC) last issued its earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Orion Engineered Carbons had a return on equity of 137.36% and a net margin of 5.50%. equities research analysts anticipate that Orion Engineered Carbons SA will post 1.65 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 27th. Stockholders of record on Friday, December 22nd were given a dividend of $0.169 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, December 21st. Orion Engineered Carbons’s payout ratio is 68.38%.
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Orion Engineered Carbons Profile
Orion Engineered Carbons SA is a producer of carbon black. The Company operates through two segments: Specialty Carbon Black and Rubber Carbon Black. The Specialty Carbon Black segment is engaged in the production of specialty carbon black. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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