Orion Engineered Carbons SA (NYSE:OEC) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 579,000 shares, a growth of 25.7% from the December 15th total of 460,800 shares. Based on an average trading volume of 314,500 shares, the short-interest ratio is presently 1.8 days. Approximately 1.0% of the shares of the stock are short sold.
In other news, insider Stinson Terry 1,672,621 shares of the firm’s stock in a transaction that occurred on Monday, November 18th.
Several institutional investors have recently modified their holdings of OEC. Victory Capital Management Inc. grew its holdings in Orion Engineered Carbons by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 4,915,631 shares of the specialty chemicals company’s stock worth $105,244,000 after acquiring an additional 85,303 shares during the period. BlackRock Inc. boosted its position in shares of Orion Engineered Carbons by 136,236.1% during the second quarter. BlackRock Inc. now owns 2,789,437 shares of the specialty chemicals company’s stock worth $59,722,000 after purchasing an additional 2,787,391 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Orion Engineered Carbons by 4.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,231,233 shares of the specialty chemicals company’s stock worth $26,361,000 after purchasing an additional 57,563 shares in the last quarter. State Street Corp boosted its position in shares of Orion Engineered Carbons by 16.2% during the third quarter. State Street Corp now owns 1,054,028 shares of the specialty chemicals company’s stock worth $17,613,000 after purchasing an additional 146,566 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in shares of Orion Engineered Carbons by 5.9% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,033,307 shares of the specialty chemicals company’s stock worth $22,123,000 after purchasing an additional 57,133 shares in the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on OEC. UBS Group cut their target price on shares of Orion Engineered Carbons from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. ValuEngine cut shares of Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Zacks Investment Research lowered shares of Orion Engineered Carbons from a “hold” rating to a “sell” rating in a report on Saturday, January 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.50.
Shares of Orion Engineered Carbons stock traded down $0.21 during midday trading on Tuesday, reaching $18.79. The company had a trading volume of 718,800 shares, compared to its average volume of 379,478. The company has a current ratio of 1.83, a quick ratio of 1.24 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The stock has a fifty day simple moving average of $19.09 and a 200 day simple moving average of $17.41. Orion Engineered Carbons has a 1-year low of $12.10 and a 1-year high of $28.51.
Orion Engineered Carbons (NYSE:OEC) last issued its quarterly earnings results on Thursday, October 31st. The specialty chemicals company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $370.20 million during the quarter, compared to analyst estimates of $405.34 million. Orion Engineered Carbons had a net margin of 5.74% and a return on equity of 68.78%. Sell-side analysts expect that Orion Engineered Carbons will post 1.82 earnings per share for the current year.
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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