ValuEngine upgraded shares of Orion Engineered Carbons (NYSE:OEC) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
OEC has been the topic of several other reports. Loop Capital initiated coverage on Orion Engineered Carbons in a research report on Wednesday, October 3rd. They issued a buy rating and a $40.00 target price on the stock. Northcoast Research restated a buy rating and issued a $40.00 target price on shares of Orion Engineered Carbons in a research report on Tuesday, August 7th. Finally, Zacks Investment Research cut Orion Engineered Carbons from a strong-buy rating to a hold rating in a research report on Tuesday, October 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $33.14.
OEC traded up $1.01 during trading hours on Wednesday, hitting $27.92. The company’s stock had a trading volume of 781,235 shares, compared to its average volume of 683,284. Orion Engineered Carbons has a fifty-two week low of $22.25 and a fifty-two week high of $36.55. The company has a debt-to-equity ratio of 5.08, a current ratio of 2.01 and a quick ratio of 1.40. The stock has a market cap of $1.54 billion, a P/E ratio of 17.13 and a beta of 1.09.
Orion Engineered Carbons (NYSE:OEC) last posted its earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Orion Engineered Carbons had a return on equity of 132.30% and a net margin of 7.95%. The firm had revenue of $394.00 million for the quarter, compared to analysts’ expectations of $333.14 million. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. Equities analysts anticipate that Orion Engineered Carbons will post 2.18 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, December 17th. Orion Engineered Carbons’s dividend payout ratio (DPR) is presently 49.08%.
Hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Orion Engineered Carbons during the 2nd quarter valued at $230,000. Verition Fund Management LLC acquired a new position in shares of Orion Engineered Carbons during the 2nd quarter valued at $248,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Orion Engineered Carbons during the 2nd quarter valued at $263,000. Brown Advisory Inc. acquired a new position in shares of Orion Engineered Carbons during the 1st quarter valued at $307,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Orion Engineered Carbons in the 3rd quarter worth $342,000. Institutional investors own 91.05% of the company’s stock.
About Orion Engineered Carbons
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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