Orion Engineered Carbons SA (OEC) Stake Boosted by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of Orion Engineered Carbons SA (NYSE:OEC) by 760.2% during the 4th quarter, HoldingsChannel reports. The firm owned 738,823 shares of the specialty chemicals company’s stock after purchasing an additional 652,936 shares during the period. Millennium Management LLC’s holdings in Orion Engineered Carbons were worth $18,914,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Rovida Advisors Inc. lifted its holdings in shares of Orion Engineered Carbons by 25.1% during the 4th quarter. Rovida Advisors Inc. now owns 3,515,059 shares of the specialty chemicals company’s stock valued at $89,986,000 after purchasing an additional 705,059 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Orion Engineered Carbons by 14.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,091,701 shares of the specialty chemicals company’s stock valued at $79,148,000 after purchasing an additional 397,397 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Orion Engineered Carbons by 22.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,182,600 shares of the specialty chemicals company’s stock valued at $55,875,000 after purchasing an additional 394,900 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Orion Engineered Carbons by 164.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,716,178 shares of the specialty chemicals company’s stock valued at $43,934,000 after purchasing an additional 1,067,298 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Orion Engineered Carbons by 3.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,351,477 shares of the specialty chemicals company’s stock valued at $30,341,000 after purchasing an additional 49,806 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.

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OEC has been the topic of several recent analyst reports. Zacks Investment Research upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Jefferies Group started coverage on Orion Engineered Carbons in a research report on Monday, January 22nd. They issued a “buy” rating on the stock. UBS reissued a “neutral” rating and issued a $29.00 target price (up previously from $23.00) on shares of Orion Engineered Carbons in a research report on Friday, February 23rd. KeyCorp reissued a “buy” rating and issued a $33.00 target price (up previously from $29.00) on shares of Orion Engineered Carbons in a research report on Monday, February 26th. Finally, Northcoast Research set a $35.00 target price on Orion Engineered Carbons and gave the company a “buy” rating in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.75.

Shares of Orion Engineered Carbons stock opened at $27.10 on Friday. Orion Engineered Carbons SA has a 52-week low of $17.15 and a 52-week high of $30.25. The company has a market capitalization of $1,616.11, a P/E ratio of 16.63 and a beta of 0.75. The company has a current ratio of 1.83, a quick ratio of 1.27 and a debt-to-equity ratio of 6.82.

Orion Engineered Carbons (NYSE:OEC) last announced its earnings results on Thursday, February 22nd. The specialty chemicals company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Orion Engineered Carbons had a return on equity of 123.23% and a net margin of 5.69%. The business had revenue of $339.76 million for the quarter. research analysts forecast that Orion Engineered Carbons SA will post 2.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 30th. Shareholders of record on Wednesday, June 20th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Tuesday, June 19th. Orion Engineered Carbons’s dividend payout ratio (DPR) is 49.08%.

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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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Institutional Ownership by Quarter for Orion Engineered Carbons (NYSE:OEC)

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