Orion Engineered Carbons SA (OEC) Rating Increased to Buy at Zacks Investment Research
Orion Engineered Carbons SA (NYSE:OEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $20.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.93% from the company’s current price.
According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “
Separately, JPMorgan Chase & Co. increased their target price on shares of Orion Engineered Carbons SA from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.00.
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Shares of Orion Engineered Carbons SA (NYSE:OEC) opened at 18.03 on Wednesday. The firm has a 50-day moving average of $18.33 and a 200 day moving average of $16.28. Orion Engineered Carbons SA has a 52-week low of $9.69 and a 52-week high of $19.41. The stock has a market capitalization of $1.07 billion, a PE ratio of 22.20 and a beta of 0.54.
Orion Engineered Carbons SA (NYSE:OEC) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $247.89 million for the quarter, compared to the consensus estimate of $254.85 million. Orion Engineered Carbons SA had a net margin of 4.22% and a return on equity of 135.26%. The company’s revenue was down 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Equities research analysts forecast that Orion Engineered Carbons SA will post $1.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 22nd were given a $0.1893 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from Orion Engineered Carbons SA’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, September 20th. Orion Engineered Carbons SA’s dividend payout ratio is 93.83%.
Large investors have recently modified their holdings of the stock. Brigade Capital Management LP boosted its stake in shares of Orion Engineered Carbons SA by 10.0% in the first quarter. Brigade Capital Management LP now owns 1,978,200 shares of the company’s stock worth $27,933,000 after buying an additional 179,072 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Orion Engineered Carbons SA by 2.8% in the second quarter. Victory Capital Management Inc. now owns 1,566,776 shares of the company’s stock worth $24,896,000 after buying an additional 42,825 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Orion Engineered Carbons SA by 84.2% in the second quarter. Acadian Asset Management LLC now owns 64,025 shares of the company’s stock worth $1,018,000 after buying an additional 29,268 shares during the period. Bogle Investment Management L P DE acquired a new stake in shares of Orion Engineered Carbons SA during the first quarter worth approximately $981,000. Finally, Adirondack Research & Management Inc. acquired a new stake in shares of Orion Engineered Carbons SA during the first quarter worth approximately $441,000. Institutional investors and hedge funds own 29.20% of the company’s stock.
About Orion Engineered Carbons SA
Orion Engineered Carbons SA is a producer of carbon black. The Company conducts its operations through two segments: the Specialty Carbon Black segment and the Rubber Carbon Black segment. The Specialty Carbon Black segment is engaged in the production of specialty black carbon. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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