Insider Buying: OCI Partners Insider Purchases 9,796 Shares of Stock (OCIP)
OCI Partners (NASDAQ:OCIP) Insider Nassef Sawiris acquired 9,796 shares of OCI Partners stock on the open market in a transaction dated Friday, August 15th. The stock was purchased at an average price of $18.99 per share, for a total transaction of $186,026.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
OCI Partners (NASDAQ:OCIP) traded up 3.30% on Wednesday, hitting $19.71. The stock had a trading volume of 14,878 shares. OCI Partners has a 1-year low of $16.08 and a 1-year high of $28.73. The stock has a 50-day moving average of $20.46 and a 200-day moving average of $21.. The company has a market cap of $1.587 billion and a P/E ratio of 42.31.
OCI Partners (NASDAQ:OCIP) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.64 by $0.13. On average, analysts predict that OCI Partners will post $1.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders 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 9.82%. The ex-dividend date of this dividend is Wednesday, August 20th. This is a boost from OCI Partners’s previous quarterly dividend of $0.41.
A number of analysts have recently weighed in on OCIP shares. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of OCI Partners in a research note on Thursday, August 14th. 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 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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