Orion Engineered Carbons SA (NYSE:OEC) – Analysts at Northcoast Research raised their FY2018 earnings per share estimates for shares of Orion Engineered Carbons in a report issued on Monday. Northcoast Research analyst K. Hocevar now expects that the specialty chemicals company will post earnings of $2.09 per share for the year, up from their prior forecast of $1.91. Northcoast Research has a “Buy” rating and a $35.00 price objective on the stock. Northcoast Research also issued estimates for Orion Engineered Carbons’ FY2019 earnings at $2.46 EPS.
Other research analysts also recently issued research reports about the stock. UBS Group restated a “neutral” rating and set a $29.00 price target (up previously from $23.00) on shares of Orion Engineered Carbons in a report on Friday, February 23rd. Zacks Investment Research upgraded shares of Orion Engineered Carbons from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday. KeyCorp restated a “buy” rating and set a $26.00 price target on shares of Orion Engineered Carbons in a report on Friday, November 3rd. Barclays raised their price target on shares of Orion Engineered Carbons from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, November 7th. Finally, Jefferies Group assumed coverage on shares of Orion Engineered Carbons in a report on Monday, January 22nd. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Orion Engineered Carbons presently has an average rating of “Buy” and an average price target of $28.63.
A number of institutional investors and hedge funds have recently made changes to their positions in OEC. Zimmer Partners LP raised its holdings in Orion Engineered Carbons by 509.0% in the 4th quarter. Zimmer Partners LP now owns 2,275,000 shares of the specialty chemicals company’s stock worth $58,240,000 after acquiring an additional 1,901,424 shares during the period. Alliancebernstein L.P. raised its holdings in Orion Engineered Carbons by 164.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,716,178 shares of the specialty chemicals company’s stock worth $43,934,000 after acquiring an additional 1,067,298 shares during the period. Peregrine Capital Management LLC bought a new position in Orion Engineered Carbons in the 4th quarter worth $19,192,000. Rovida Advisors Inc. raised its holdings in Orion Engineered Carbons by 25.1% in the 4th quarter. Rovida Advisors Inc. now owns 3,515,059 shares of the specialty chemicals company’s stock worth $89,986,000 after acquiring an additional 705,059 shares during the period. Finally, Millennium Management LLC raised its holdings in Orion Engineered Carbons by 760.2% in the 4th quarter. Millennium Management LLC now owns 738,823 shares of the specialty chemicals company’s stock worth $18,914,000 after acquiring an additional 652,936 shares during the period. Hedge funds and other institutional investors own 68.24% of the company’s stock.
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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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