First Mercantile Trust Co. increased its position in shares of Orion Engineered Carbons SA (NYSE:OEC) by 9.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 18,479 shares of the specialty chemicals company’s stock after purchasing an additional 1,590 shares during the quarter. First Mercantile Trust Co.’s holdings in Orion Engineered Carbons were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in OEC. Bank of New York Mellon Corp grew its position in Orion Engineered Carbons by 1,185.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,362,704 shares of the specialty chemicals company’s stock worth $34,450,000 after buying an additional 1,256,698 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Orion Engineered Carbons by 28.6% during the first quarter. Victory Capital Management Inc. now owns 4,830,328 shares of the specialty chemicals company’s stock worth $91,728,000 after purchasing an additional 1,075,106 shares during the period. Millennium Management LLC lifted its stake in Orion Engineered Carbons by 187.5% during the fourth quarter. Millennium Management LLC now owns 1,641,052 shares of the specialty chemicals company’s stock worth $41,486,000 after purchasing an additional 1,070,346 shares during the period. Federated Investors Inc. PA lifted its stake in Orion Engineered Carbons by 302.4% during the third quarter. Federated Investors Inc. PA now owns 525,464 shares of the specialty chemicals company’s stock worth $16,867,000 after purchasing an additional 394,882 shares during the period. Finally, Monarch Partners Asset Management LLC lifted its stake in Orion Engineered Carbons by 383.2% during the fourth quarter. Monarch Partners Asset Management LLC now owns 362,130 shares of the specialty chemicals company’s stock worth $9,155,000 after purchasing an additional 287,190 shares during the period. 94.71% of the stock is currently owned by institutional investors and hedge funds.
NYSE:OEC opened at $19.18 on Friday. Orion Engineered Carbons SA has a 1 year low of $18.09 and a 1 year high of $36.55. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.81 and a quick ratio of 1.27. The company has a market capitalization of $1.14 billion, a PE ratio of 8.68, a PEG ratio of 0.97 and a beta of 0.92.
Orion Engineered Carbons (NYSE:OEC) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). Orion Engineered Carbons had a net margin of 7.47% and a return on equity of 82.03%. The firm had revenue of $384.71 million during the quarter, compared to the consensus estimate of $412.14 million. During the same quarter last year, the firm posted $0.58 EPS. The business’s revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Orion Engineered Carbons SA will post 1.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Wednesday, June 19th. Orion Engineered Carbons’s dividend payout ratio (DPR) is currently 36.20%.
A number of brokerages have commented on OEC. ValuEngine cut shares of Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Northcoast Research restated a “buy” rating on shares of Orion Engineered Carbons in a research note on Tuesday, March 12th. Zacks Investment Research upgraded shares of Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. CJS Securities began coverage on shares of Orion Engineered Carbons in a research note on Thursday, March 21st. They set a “market outperform” rating for the company. Finally, Barclays set a $24.00 price target on shares of Orion Engineered Carbons and gave the stock a “hold” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $31.50.
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Orion Engineered Carbons Profile
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.
Further Reading: Strike Price
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