Orion Engineered Carbons SA (NYSE:OEC) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,190,000 shares, a growth of 5.3% from the August 15th total of 1,130,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average trading volume of 630,200 shares, the short-interest ratio is presently 1.9 days.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Orion Engineered Carbons by 136,236.1% during the 2nd quarter. BlackRock Inc. now owns 2,789,437 shares of the specialty chemicals company’s stock worth $59,722,000 after purchasing an additional 2,787,391 shares during the period. Ancora Advisors LLC purchased a new position in Orion Engineered Carbons during the 2nd quarter worth $9,804,000. Russell Investments Group Ltd. purchased a new position in Orion Engineered Carbons during the 2nd quarter worth $8,865,000. Investment Counselors of Maryland LLC increased its holdings in Orion Engineered Carbons by 43.4% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,150,476 shares of the specialty chemicals company’s stock worth $24,632,000 after purchasing an additional 347,956 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in Orion Engineered Carbons during the 2nd quarter worth $7,414,000. 96.66% of the stock is owned by hedge funds and other institutional investors.
OEC has been the subject of a number of research analyst reports. Loop Capital lowered Orion Engineered Carbons from a “buy” rating to a “hold” rating and decreased their price target for the stock from $29.00 to $17.00 in a research note on Monday, August 5th. TheStreet lowered Orion Engineered Carbons from a “b-” rating to a “c+” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research lowered Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Orion Engineered Carbons presently has a consensus rating of “Hold” and a consensus target price of $25.20.
Shares of OEC stock traded up $0.03 on Monday, reaching $16.71. 421,575 shares of the company’s stock were exchanged, compared to its average volume of 507,158. Orion Engineered Carbons has a 52 week low of $12.10 and a 52 week high of $33.36. The company has a current ratio of 1.77, a quick ratio of 1.23 and a debt-to-equity ratio of 3.81. The stock has a market capitalization of $978.48 million, a PE ratio of 7.56, a P/E/G ratio of 0.90 and a beta of 1.24. The company’s fifty day simple moving average is $14.48 and its 200 day simple moving average is $18.24.
Orion Engineered Carbons (NYSE:OEC) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). Orion Engineered Carbons had a return on equity of 71.44% and a net margin of 5.64%. The business had revenue of $399.02 million for the quarter, compared to the consensus estimate of $391.68 million. During the same period in the prior year, the business posted $0.69 earnings per share. Orion Engineered Carbons’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Orion Engineered Carbons will post 1.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Tuesday, December 17th. Orion Engineered Carbons’s dividend payout ratio is currently 36.20%.
Orion Engineered Carbons Company 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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