Comerica Bank lifted its position in shares of Orion Engineered Carbons SA (NYSE:OEC) by 26.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,235 shares of the specialty chemicals company’s stock after buying an additional 7,795 shares during the quarter. Comerica Bank owned approximately 0.06% of Orion Engineered Carbons worth $693,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zeke Capital Advisors LLC boosted its position in Orion Engineered Carbons by 5.1% during the second quarter. Zeke Capital Advisors LLC now owns 17,734 shares of the specialty chemicals company’s stock valued at $380,000 after purchasing an additional 867 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in shares of Orion Engineered Carbons in the second quarter worth about $28,000. First Mercantile Trust Co. raised its stake in shares of Orion Engineered Carbons by 9.4% in the first quarter. First Mercantile Trust Co. now owns 18,479 shares of the specialty chemicals company’s stock worth $351,000 after purchasing an additional 1,590 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Orion Engineered Carbons by 48.6% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,040 shares of the specialty chemicals company’s stock worth $152,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Keybank National Association OH raised its stake in shares of Orion Engineered Carbons by 6.7% in the second quarter. Keybank National Association OH now owns 63,850 shares of the specialty chemicals company’s stock worth $1,367,000 after purchasing an additional 4,000 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.
OEC has been the topic of several analyst reports. Zacks Investment Research lowered Orion Engineered Carbons from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. TheStreet lowered Orion Engineered Carbons from a “b-” rating to a “c+” rating in a report on Tuesday, August 6th. Finally, Loop Capital lowered Orion Engineered Carbons from a “buy” rating to a “hold” rating and dropped their price objective for the company from $29.00 to $17.00 in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $25.20.
Orion Engineered Carbons stock traded up $0.20 during trading on Friday, reaching $17.10. 27,768 shares of the company were exchanged, compared to its average volume of 409,698. Orion Engineered Carbons SA has a 52-week low of $12.10 and a 52-week high of $33.36. The company has a debt-to-equity ratio of 3.81, a current ratio of 1.77 and a quick ratio of 1.23. The company has a market capitalization of $1.02 billion, a P/E ratio of 7.74, a PEG ratio of 0.89 and a beta of 1.24. The stock’s 50 day simple moving average is $14.78 and its two-hundred day simple moving average is $19.02.
Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $399.02 million during the quarter, compared to analysts’ expectations of $391.68 million. Orion Engineered Carbons had a net margin of 5.64% and a return on equity of 71.44%. Orion Engineered Carbons’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. As a group, equities analysts forecast that Orion Engineered Carbons SA will post 1.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.80 annualized dividend and a yield of 4.68%. Orion Engineered Carbons’s payout ratio is 36.20%.
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.
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