OCI Partners Sees Strong Trading Volume After Dividend Announcement (OCIP)
OCI Partners (NASDAQ:OCIP) shares saw strong trading volume on Wednesday after the company announced a dividend, American Banking & Market News reports. 86,886 shares were traded during trading, an increase of 39% from the previous session’s volume of 62,724 shares.The stock last traded at $18.10 and had previously closed at $18.00.
The newly announced dividend is scheduled for Thursday, August 28th. Investors of record on Friday, August 22nd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 10.67%. The ex-dividend date of this dividend is Wednesday, August 20th. This is an increase from OCI Partners’s previous quarterly dividend of $0.41.
Separately, analysts at Alembic Global Advisors initiated coverage on shares of OCI Partners in a research note on Monday, June 23rd. They set an “overweight” rating and a $30.00 price target on the stock.
The stock has a 50-day moving average of $20.65 and a 200-day moving average of $22.1. The company has a market cap of $1.459 billion and a P/E ratio of 46.88.
OCI Partners (NASDAQ:OCIP) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.13. On average, analysts predict that OCI Partners will post $1.66 earnings per share for the current fiscal year.
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont.
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