Oppenheimer & Co. Inc. grew its position in Orion Engineered Carbons SA (NYSE:OEC) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,350 shares of the specialty chemicals company’s stock after acquiring an additional 3,450 shares during the period. Oppenheimer & Co. Inc.’s holdings in Orion Engineered Carbons were worth $614,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Orion Engineered Carbons by 20.8% in the fourth quarter. Victory Capital Management Inc. now owns 3,755,222 shares of the specialty chemicals company’s stock valued at $94,932,000 after acquiring an additional 645,425 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Orion Engineered Carbons by 187.5% in the fourth quarter. Millennium Management LLC now owns 1,641,052 shares of the specialty chemicals company’s stock valued at $41,486,000 after acquiring an additional 1,070,346 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Orion Engineered Carbons by 1,185.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,362,704 shares of the specialty chemicals company’s stock valued at $34,450,000 after acquiring an additional 1,256,698 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its holdings in shares of Orion Engineered Carbons by 3.7% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 1,174,945 shares of the specialty chemicals company’s stock valued at $29,703,000 after acquiring an additional 41,607 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in shares of Orion Engineered Carbons by 27.0% in the first quarter. Peregrine Capital Management LLC now owns 972,719 shares of the specialty chemicals company’s stock valued at $18,472,000 after acquiring an additional 207,043 shares in the last quarter. 93.37% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. Northcoast Research reaffirmed a “buy” rating on shares of Orion Engineered Carbons in a report on Tuesday, March 12th. Zacks Investment Research raised shares of Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Saturday, February 16th. JPMorgan Chase & Co. downgraded shares of Orion Engineered Carbons from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $31.00 to $20.00 in a report on Monday, March 11th. ValuEngine downgraded shares of Orion Engineered Carbons from a “sell” rating to a “strong sell” rating in a report on Saturday, March 9th. Finally, CJS Securities began coverage on shares of Orion Engineered Carbons in a report on Thursday, March 21st. They set a “market outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.00.
Orion Engineered Carbons (NYSE:OEC) last released its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). The company had revenue of $384.71 million for the quarter, compared to analysts’ expectations of $412.14 million. Orion Engineered Carbons had a return on equity of 97.17% and a net margin of 7.70%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. On average, equities analysts predict that Orion Engineered Carbons SA will post 2 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Wednesday, June 19th. Orion Engineered Carbons’s dividend payout ratio is currently 36.20%.
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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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