Insider Buying: OCI Partners Insider Buys 9,796 Shares of Stock (OCIP)
OCI Partners (NASDAQ:OCIP) Insider Nassef Sawiris purchased 9,796 shares of the stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of $18.99 per share, for a total transaction of $186,026.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of OCI Partners in a research note on Thursday. They now have a $20.00 price target on the stock, down previously from $25.00. 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.
OCI Partners (NASDAQ:OCIP) traded up 3.75% on Monday, hitting $19.91. 98,502 shares of the company’s stock traded hands. OCI Partners has a 52-week low of $16.08 and a 52-week high of $28.73. The stock’s 50-day moving average is $20.54 and its 200-day moving average is $22.07. The company has a market cap of $1.603 billion and a price-to-earnings ratio of 42.55.
OCI Partners (NASDAQ:OCIP) last posted its quarterly earnings results 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. Analysts expect that OCI Partners will post $1.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 28th. Investors of record on Friday, August 22nd will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 10.01%. The ex-dividend date is Wednesday, August 20th. This is an increase from OCI Partners’s previous quarterly dividend of $0.41.
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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