Orion Engineered Carbons SA (NYSE:OEC) reached a new 52-week low during trading on Thursday . The company traded as low as $19.95 and last traded at $20.15, with a volume of 12976 shares trading hands. The stock had previously closed at $20.49.
OEC has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. JPMorgan Chase & Co. cut Orion Engineered Carbons from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $31.00 to $20.00 in a research note on Monday. ValuEngine cut Orion Engineered Carbons from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 9th. Finally, Northcoast Research reiterated a “buy” rating on shares of Orion Engineered Carbons in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.00.
The company has a market capitalization of $1.22 billion, a PE ratio of 9.10, a PEG ratio of 0.94 and a beta of 0.96. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.80 and a quick ratio of 1.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 20th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.98%. The ex-dividend date is Wednesday, June 19th. Orion Engineered Carbons’s payout ratio is currently 36.20%.
A number of institutional investors and hedge funds have recently modified their holdings of OEC. Northern Trust Corp boosted its stake in shares of Orion Engineered Carbons by 198.7% in the second quarter. Northern Trust Corp now owns 34,251 shares of the specialty chemicals company’s stock worth $1,056,000 after acquiring an additional 22,786 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Orion Engineered Carbons in the third quarter worth approximately $342,000. Comerica Bank acquired a new stake in shares of Orion Engineered Carbons in the third quarter worth approximately $1,037,000. Wells Fargo & Company MN boosted its stake in shares of Orion Engineered Carbons by 77.8% in the third quarter. Wells Fargo & Company MN now owns 30,580 shares of the specialty chemicals company’s stock worth $982,000 after acquiring an additional 13,379 shares during the last quarter. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Orion Engineered Carbons in the third quarter worth approximately $1,308,000. 92.93% of the stock is currently owned by institutional investors.
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Orion Engineered Carbons Company Profile (NYSE:OEC)
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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