Orion Engineered Carbons (OEC) Upgraded to “Hold” at Zacks Investment Research

Orion Engineered Carbons (NYSE:OEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

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. “

Several other research analysts have also recently issued reports on OEC. Barclays lifted their target price on shares of Orion Engineered Carbons from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 7th. KeyCorp reaffirmed a “buy” rating and issued a $24.00 target price on shares of Orion Engineered Carbons in a report on Wednesday, October 4th. UBS Group lifted their target price on shares of Orion Engineered Carbons from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, JPMorgan Chase & Co. raised shares of Orion Engineered Carbons from a “neutral” rating to an “overweight” rating and set a $29.00 target price for the company in a report on Monday, November 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Orion Engineered Carbons currently has a consensus rating of “Buy” and an average target price of $24.71.

Orion Engineered Carbons (NYSE:OEC) opened at $27.45 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 2.08 and a debt-to-equity ratio of 8.95. The stock has a market cap of $1,604.61, a PE ratio of 23.46 and a beta of 0.54. Orion Engineered Carbons has a twelve month low of $17.15 and a twelve month high of $27.55.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Orion Engineered Carbons by 9.9% during the third quarter. Victory Capital Management Inc. now owns 2,694,304 shares of the specialty chemicals company’s stock valued at $60,487,000 after purchasing an additional 243,357 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Orion Engineered Carbons by 3.8% during the third quarter. Ameriprise Financial Inc. now owns 1,351,477 shares of the specialty chemicals company’s stock valued at $30,341,000 after purchasing an additional 49,806 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Orion Engineered Carbons by 0.9% during the second quarter. Renaissance Technologies LLC now owns 1,254,612 shares of the specialty chemicals company’s stock valued at $25,030,000 after purchasing an additional 10,712 shares during the last quarter. Cambiar Investors LLC purchased a new position in shares of Orion Engineered Carbons during the third quarter valued at approximately $11,843,000. Finally, Neuberger Berman Group LLC raised its holdings in shares of Orion Engineered Carbons by 11.0% during the second quarter. Neuberger Berman Group LLC now owns 316,297 shares of the specialty chemicals company’s stock valued at $6,310,000 after purchasing an additional 31,225 shares during the last quarter. 54.56% of the stock is owned by hedge funds and other institutional investors.

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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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