Orion Engineered Carbons S.A. Declares Quarterly Dividend of $0.02 (NYSE:OEC)

Orion Engineered Carbons S.A. (NYSE:OEC – Get Rating) announced a quarterly dividend on Thursday, March 9th, Wall Street Journal reports. Stockholders of record on Tuesday, March 21st will be given a dividend of 0.0207 per share by the specialty chemicals company on Wednesday, April 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Monday, March 20th.

Orion Engineered Carbons has decreased its dividend by an average of 53.1% annually over the last three years. Orion Engineered Carbons has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Orion Engineered Carbons to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 2.9%.

Orion Engineered Carbons Trading Down 2.8 %

NYSE:OEC opened at $24.13 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.41 and a quick ratio of 0.91. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.87 and a beta of 1.65. Orion Engineered Carbons has a one year low of $12.87 and a one year high of $26.91. The business has a fifty day moving average price of $22.45 and a 200-day moving average price of $18.68.

Orion Engineered Carbons (NYSE:OEC – Get Rating) last posted its quarterly earnings data on Friday, February 17th. The specialty chemicals company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.16 by $0.10. The firm had revenue of $462.10 million during the quarter, compared to analyst estimates of $441.89 million. Orion Engineered Carbons had a return on equity of 28.89% and a net margin of 5.23%. Orion Engineered Carbons’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Sell-side analysts forecast that Orion Engineered Carbons will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Orion Engineered Carbons

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

Hedge Funds Weigh In On Orion Engineered Carbons

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its holdings in Orion Engineered Carbons by 2.1% in the 1st quarter. State Street Corp now owns 1,224,106 shares of the specialty chemicals company’s stock valued at $19,574,000 after purchasing an additional 25,368 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Orion Engineered Carbons by 58.2% in the 2nd quarter. Millennium Management LLC now owns 1,067,704 shares of the specialty chemicals company’s stock valued at $16,581,000 after buying an additional 392,781 shares in the last quarter. Geode Capital Management LLC boosted its stake in Orion Engineered Carbons by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,040,847 shares of the specialty chemicals company’s stock worth $18,537,000 after purchasing an additional 30,532 shares during the period. Dimensional Fund Advisors LP boosted its stake in Orion Engineered Carbons by 33.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 997,557 shares of the specialty chemicals company’s stock worth $13,317,000 after purchasing an additional 252,768 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Orion Engineered Carbons by 17.1% in the 1st quarter. Invesco Ltd. now owns 828,485 shares of the specialty chemicals company’s stock worth $13,230,000 after acquiring an additional 121,279 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.