Man Group plc boosted its holdings in Orion Engineered Carbons SA (NYSE:OEC) by 29.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 816,271 shares of the specialty chemicals company’s stock after acquiring an additional 184,594 shares during the period. Man Group plc owned 1.37% of Orion Engineered Carbons worth $26,202,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Sapphire Star Partners LP bought a new position in Orion Engineered Carbons during the 3rd quarter worth $101,000. Quantbot Technologies LP acquired a new stake in Orion Engineered Carbons in the third quarter valued at about $107,000. Eagle Asset Management Inc. boosted its stake in shares of Orion Engineered Carbons by 2.4% during the third quarter. Eagle Asset Management Inc. now owns 207,179 shares of the specialty chemicals company’s stock valued at $6,650,000 after purchasing an additional 4,880 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Orion Engineered Carbons by 8.6% during the second quarter. Advisors Asset Management Inc. now owns 64,467 shares of the specialty chemicals company’s stock valued at $1,989,000 after purchasing an additional 5,096 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Orion Engineered Carbons by 28.0% during the second quarter. Oppenheimer & Co. Inc. now owns 28,150 shares of the specialty chemicals company’s stock valued at $868,000 after purchasing an additional 6,150 shares in the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.
A number of research firms recently commented on OEC. ValuEngine lowered Orion Engineered Carbons from a “sell” rating to a “strong sell” rating in a research note on Friday, December 7th. UBS Group raised Orion Engineered Carbons from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, November 20th. Zacks Investment Research lowered Orion Engineered Carbons from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Loop Capital assumed coverage on Orion Engineered Carbons in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $34.67.
Orion Engineered Carbons (NYSE:OEC) last issued its earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.51. The business had revenue of $394.00 million during the quarter, compared to the consensus estimate of $333.14 million. Orion Engineered Carbons had a return on equity of 108.30% and a net margin of 8.22%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. On average, research analysts anticipate that Orion Engineered Carbons SA will post 2.2 earnings per share for the current year.
The firm also recently announced 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 3.28%. Orion Engineered Carbons’s payout ratio is currently 49.08%.
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About Orion Engineered Carbons
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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