Orion Engineered Carbons (NYSE:OEC) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of Orion Engineered Carbons (NYSE:OEC) from a hold rating to a sell rating in a research report report published on Tuesday morning, ValuEngine reports.

OEC has been the topic of a number of other research reports. Zacks Investment Research cut shares of Orion Engineered Carbons from a hold rating to a sell rating in a report on Friday, March 13th. UBS Group decreased their target price on Orion Engineered Carbons from $16.00 to $15.00 and set a buy rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $18.67.

Shares of OEC traded up $0.18 during mid-day trading on Tuesday, hitting $7.46. The stock had a trading volume of 959,900 shares, compared to its average volume of 568,941. The company has a market cap of $417.93 million, a PE ratio of 5.29 and a beta of 1.38. The company’s fifty day simple moving average is $13.47 and its two-hundred day simple moving average is $16.67. The company has a quick ratio of 1.20, a current ratio of 1.78 and a debt-to-equity ratio of 3.39. Orion Engineered Carbons has a fifty-two week low of $5.93 and a fifty-two week high of $21.87.

Orion Engineered Carbons (NYSE:OEC) last announced its quarterly earnings data on Thursday, February 20th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Orion Engineered Carbons had a return on equity of 64.30% and a net margin of 5.89%. The firm had revenue of $322.43 million for the quarter, compared to analysts’ expectations of $365.94 million. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities analysts expect that Orion Engineered Carbons will post 1.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 9th. This is a positive change from Orion Engineered Carbons’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 10.72%. Orion Engineered Carbons’s dividend payout ratio (DPR) is currently 42.78%.

In other Orion Engineered Carbons news, VP Patrick F. Tuttle purchased 4,250 shares of Orion Engineered Carbons stock in a transaction on Wednesday, March 4th. The stock was bought at an average price of $13.95 per share, for a total transaction of $59,287.50. Also, insider Michael Reers purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $11.35 per share, with a total value of $56,750.00. Following the purchase, the insider now owns 21,268 shares of the company’s stock, valued at approximately $241,391.80. The disclosure for this purchase can be found here. Insiders acquired 14,850 shares of company stock worth $184,862 over the last quarter.

Several institutional investors and hedge funds have recently modified their holdings of OEC. State Street Corp increased its stake in shares of Orion Engineered Carbons by 16.2% during the third quarter. State Street Corp now owns 1,054,028 shares of the specialty chemicals company’s stock valued at $17,613,000 after acquiring an additional 146,566 shares during the period. Barclays PLC grew its stake in shares of Orion Engineered Carbons by 57.9% in the 3rd quarter. Barclays PLC now owns 60,640 shares of the specialty chemicals company’s stock worth $1,013,000 after purchasing an additional 22,236 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of Orion Engineered Carbons in the 4th quarter worth approximately $774,000. California State Teachers Retirement System raised its holdings in shares of Orion Engineered Carbons by 2.4% in the 3rd quarter. California State Teachers Retirement System now owns 93,918 shares of the specialty chemicals company’s stock worth $1,569,000 after purchasing an additional 2,190 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in Orion Engineered Carbons during the third quarter valued at approximately $479,000. 93.32% of the stock is currently owned by institutional investors.

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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