Shares of Orion Engineered Carbons SA (NYSE:OEC) have been given a consensus rating of “Buy” by the nine analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.83.
Several research firms have weighed in on OEC. Zacks Investment Research raised shares of Orion Engineered Carbons from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Friday, July 13th. Loop Capital began coverage on shares of Orion Engineered Carbons in a report on Wednesday, October 3rd. They issued a “buy” rating and a $40.00 price target on the stock. ValuEngine cut shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, Northcoast Research reissued a “buy” rating and issued a $40.00 price target on shares of Orion Engineered Carbons in a report on Tuesday, August 7th.
Institutional investors and hedge funds have recently made changes to their positions in the company. Standard Life Aberdeen plc bought a new position in shares of Orion Engineered Carbons during the second quarter worth approximately $9,263,000. Quantitative Systematic Strategies LLC increased its holdings in shares of Orion Engineered Carbons by 138.9% during the second quarter. Quantitative Systematic Strategies LLC now owns 20,384 shares of the specialty chemicals company’s stock worth $629,000 after purchasing an additional 11,853 shares during the period. Monarch Partners Asset Management LLC bought a new position in shares of Orion Engineered Carbons during the second quarter worth approximately $3,920,000. Federated Investors Inc. PA bought a new position in shares of Orion Engineered Carbons during the second quarter worth approximately $4,028,000. Finally, Dalton Greiner Hartman Maher & Co. increased its holdings in shares of Orion Engineered Carbons by 6.2% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,082,270 shares of the specialty chemicals company’s stock worth $33,388,000 after purchasing an additional 63,380 shares during the period. 91.21% of the stock is currently owned by institutional investors.
Orion Engineered Carbons (NYSE:OEC) last released its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.17. The firm had revenue of $391.60 million for the quarter, compared to analysts’ expectations of $342.90 million. Orion Engineered Carbons had a net margin of 7.95% and a return on equity of 132.30%. The business’s revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Equities analysts anticipate that Orion Engineered Carbons will post 2.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 17th. This represents a $0.80 annualized dividend and a dividend yield of 2.97%. Orion Engineered Carbons’s dividend payout ratio is presently 49.08%.
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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