Paloma Partners Management Co increased its holdings in shares of Orion Engineered Carbons SA (NYSE:OEC) by 125.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691,500 shares of the specialty chemicals company’s stock after buying an additional 384,500 shares during the period. Paloma Partners Management Co owned about 1.17% of Orion Engineered Carbons worth $17,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in Orion Engineered Carbons by 164.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,716,178 shares of the specialty chemicals company’s stock valued at $43,934,000 after purchasing an additional 1,067,298 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in Orion Engineered Carbons in the 4th quarter valued at $19,192,000. Rovida Advisors Inc. lifted its holdings in Orion Engineered Carbons by 25.1% in the 4th quarter. Rovida Advisors Inc. now owns 3,515,059 shares of the specialty chemicals company’s stock valued at $89,986,000 after purchasing an additional 705,059 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Orion Engineered Carbons by 221.0% in the 4th quarter. Two Sigma Advisers LP now owns 855,948 shares of the specialty chemicals company’s stock valued at $21,912,000 after purchasing an additional 589,300 shares in the last quarter. Finally, Cambiar Investors LLC purchased a new position in Orion Engineered Carbons in the 3rd quarter valued at $11,843,000. Hedge funds and other institutional investors own 85.57% of the company’s stock.
A number of brokerages have weighed in on OEC. UBS Group restated a “neutral” rating and issued a $29.00 price objective (up previously from $23.00) on shares of Orion Engineered Carbons in a report on Friday, February 23rd. Northcoast Research set a $35.00 target price on Orion Engineered Carbons and gave the stock a “buy” rating in a research note on Monday, February 26th. KeyCorp reaffirmed a “buy” rating and issued a $33.00 target price (up from $29.00) on shares of Orion Engineered Carbons in a research note on Monday, February 26th. Jefferies Group initiated coverage on Orion Engineered Carbons in a research note on Monday, January 22nd. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on Orion Engineered Carbons from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $28.75.
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 30th. Shareholders of record on Wednesday, June 20th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Tuesday, June 19th. Orion Engineered Carbons’s dividend payout ratio (DPR) is presently 64.00%.
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Orion Engineered Carbons Profile
Orion Engineered Carbons SA is a producer of carbon black. The Company operates through two segments: Specialty Carbon Black and Rubber Carbon Black. The Specialty Carbon Black segment is engaged in the production of specialty carbon black. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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