Renaissance Technologies LLC grew its position in Orion Engineered Carbons SA (NYSE:OEC) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,182,600 shares of the specialty chemicals company’s stock after purchasing an additional 394,900 shares during the period. Renaissance Technologies LLC owned approximately 3.68% of Orion Engineered Carbons worth $55,875,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OEC. Zions Bancorporation acquired a new position in shares of Orion Engineered Carbons in the 3rd quarter valued at about $113,000. Quantum Capital Management acquired a new position in shares of Orion Engineered Carbons in the 3rd quarter valued at about $201,000. Parametric Portfolio Associates LLC lifted its stake in shares of Orion Engineered Carbons by 9.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 11,734 shares of the specialty chemicals company’s stock valued at $234,000 after purchasing an additional 1,046 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Orion Engineered Carbons by 15.7% during the 2nd quarter. Northern Trust Corp now owns 11,721 shares of the specialty chemicals company’s stock valued at $234,000 after buying an additional 1,594 shares during the period. Finally, Nationwide Fund Advisors purchased a new stake in shares of Orion Engineered Carbons during the 3rd quarter valued at about $250,000. 85.57% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on OEC shares. JPMorgan Chase & Co. raised their target price on Orion Engineered Carbons from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, March 6th. UBS Group reiterated a “neutral” rating and issued a $29.00 price target (up from $23.00) on shares of Orion Engineered Carbons in a report on Friday, February 23rd. Jefferies Group started coverage on Orion Engineered Carbons in a research report on Monday, January 22nd. They set a “buy” rating for the company. Zacks Investment Research upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, KeyCorp reiterated a “buy” rating and set a $33.00 price target (up previously from $29.00) on shares of Orion Engineered Carbons in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.75.
The company 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. The ex-dividend date is Tuesday, June 19th. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. Orion Engineered Carbons’s dividend payout ratio (DPR) is currently 64.00%.
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Orion Engineered Carbons Company 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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