Zacks Investment Research upgraded shares of Orion Engineered Carbons SA (NYSE:OEC) from a hold rating to a buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $20.00 price objective on the stock.
According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “
Separately, JPMorgan Chase & Co. boosted their price target on Orion Engineered Carbons SA from $19.00 to $20.00 and gave the company an overweight rating in a research note on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $19.00.
Shares of Orion Engineered Carbons SA (NYSE:OEC) opened at 18.10 on Wednesday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 22.29 and a beta of 0.55. Orion Engineered Carbons SA has a 52 week low of $9.69 and a 52 week high of $19.41. The company has a 50-day moving average of $18.33 and a 200-day moving average of $16.29.
Orion Engineered Carbons SA (NYSE:OEC) last issued its earnings results on Thursday, August 4th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. Orion Engineered Carbons SA had a return on equity of 135.26% and a net margin of 4.22%. The business earned $247.89 million during the quarter, compared to analyst estimates of $254.85 million. During the same quarter in the previous year, the firm earned $0.33 EPS. Orion Engineered Carbons SA’s revenue was down 12.2% on a year-over-year basis. On average, analysts anticipate that Orion Engineered Carbons SA will post $1.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 22nd were paid a dividend of $0.1893 per share. The ex-dividend date was Tuesday, September 20th. This is an increase from Orion Engineered Carbons SA’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.18%. Orion Engineered Carbons SA’s payout ratio is 93.83%.
Several hedge funds and other institutional investors have recently made changes to their positions in OEC. Westfield Capital Management Co. LP bought a new position in shares of Orion Engineered Carbons SA during the second quarter worth about $3,410,000. Brigade Capital Management LP increased its position in shares of Orion Engineered Carbons SA by 10.0% in the first quarter. Brigade Capital Management LP now owns 1,978,200 shares of the company’s stock worth $27,933,000 after buying an additional 179,072 shares during the period. Weiss Multi Strategy Advisers LLC increased its position in shares of Orion Engineered Carbons SA by 55.4% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 340,257 shares of the company’s stock worth $5,407,000 after buying an additional 121,231 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Orion Engineered Carbons SA during the first quarter worth about $1,636,000. Finally, Nuveen Asset Management LLC increased its position in shares of Orion Engineered Carbons SA by 63.0% in the second quarter. Nuveen Asset Management LLC now owns 221,487 shares of the company’s stock worth $3,519,000 after buying an additional 85,631 shares during the period. Institutional investors own 29.20% of the company’s stock.
About Orion Engineered Carbons SA
Orion Engineered Carbons SA is a producer of carbon black. The Company conducts its operations through two segments: the Specialty Carbon Black segment and the Rubber Carbon Black segment. The Specialty Carbon Black segment is engaged in the production of specialty black carbon. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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