Renaissance Technologies LLC raised its position in shares of Orion Engineered Carbons SA (NYSE:OEC) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,881,996 shares of the specialty chemicals company’s stock after buying an additional 343,196 shares during the quarter. Renaissance Technologies LLC owned about 6.51% of Orion Engineered Carbons worth $124,612,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its position in shares of Orion Engineered Carbons by 12.0% during the 3rd quarter. William Blair Investment Management LLC now owns 502,752 shares of the specialty chemicals company’s stock valued at $16,138,000 after buying an additional 53,843 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Orion Engineered Carbons by 25.4% during the 3rd quarter. Brown Advisory Inc. now owns 34,561 shares of the specialty chemicals company’s stock valued at $1,109,000 after buying an additional 6,992 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Orion Engineered Carbons during the 3rd quarter valued at approximately $107,000. Credit Suisse AG lifted its position in shares of Orion Engineered Carbons by 355.6% during the 3rd quarter. Credit Suisse AG now owns 30,021 shares of the specialty chemicals company’s stock valued at $964,000 after buying an additional 23,432 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Orion Engineered Carbons during the 3rd quarter valued at approximately $454,000. 91.10% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:OEC opened at $25.29 on Friday. Orion Engineered Carbons SA has a 1 year low of $22.45 and a 1 year high of $36.55. The company has a market cap of $1.58 billion, a PE ratio of 15.52 and a beta of 1.09. The company has a debt-to-equity ratio of 4.48, a quick ratio of 1.35 and a current ratio of 2.04.
Orion Engineered Carbons (NYSE:OEC) last announced its earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $394.00 million for the quarter, compared to analyst estimates of $333.14 million. Orion Engineered Carbons had a return on equity of 108.30% and a net margin of 8.22%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. Sell-side analysts expect that Orion Engineered Carbons SA will post 2.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Tuesday, December 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.80 dividend on an annualized basis and a yield of 3.16%. Orion Engineered Carbons’s payout ratio is currently 49.08%.
A number of brokerages have recently issued reports on OEC. Loop Capital began coverage on Orion Engineered Carbons in a research report on Wednesday, October 3rd. They set a “buy” rating and a $40.00 target price on the stock. ValuEngine lowered Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Zacks Investment Research lowered Orion Engineered Carbons from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, UBS Group upgraded Orion Engineered Carbons from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.67.
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Orion Engineered Carbons Profile
Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.
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