Tower Research Capital LLC TRC cut its holdings in Orion Engineered Carbons SA (NYSE:OEC) by 47.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,356 shares of the specialty chemicals company’s stock after selling 3,869 shares during the period. Tower Research Capital LLC TRC’s holdings in Orion Engineered Carbons were worth $134,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in OEC. Quantbot Technologies LP bought a new stake in Orion Engineered Carbons during the first quarter valued at about $189,000. Dynamic Technology Lab Private Ltd bought a new stake in Orion Engineered Carbons during the second quarter valued at about $230,000. Element Capital Management LLC bought a new stake in Orion Engineered Carbons during the first quarter valued at about $233,000. Bayesian Capital Management LP bought a new stake in Orion Engineered Carbons during the first quarter valued at about $256,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Orion Engineered Carbons during the second quarter valued at about $263,000. Institutional investors own 91.21% of the company’s stock.
A number of research firms have issued reports on OEC. ValuEngine cut shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Northcoast Research restated a “buy” rating and set a $40.00 price target on shares of Orion Engineered Carbons in a report on Tuesday, August 7th. Zacks Investment Research cut shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, Loop Capital began coverage on shares of Orion Engineered Carbons in a report on Wednesday, October 3rd. They set a “buy” rating and a $40.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Orion Engineered Carbons currently has a consensus rating of “Buy” and a consensus price target of $33.14.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.17. The company had revenue of $391.60 million during 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 quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, equities analysts anticipate that Orion Engineered Carbons SA will post 2.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, December 17th. Orion Engineered Carbons’s dividend payout ratio is currently 49.08%.
Orion Engineered Carbons Company 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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