Comerica Bank cut its holdings in shares of Orion Engineered Carbons SA (NYSE:OEC) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,550 shares of the specialty chemicals company’s stock after selling 10,266 shares during the quarter. Comerica Bank owned about 0.05% of Orion Engineered Carbons worth $835,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zeke Capital Advisors LLC purchased a new position in shares of Orion Engineered Carbons in the 3rd quarter worth about $1,308,000. William Blair Investment Management LLC raised its holdings in shares of Orion Engineered Carbons by 12.0% in the 3rd quarter. William Blair Investment Management LLC now owns 502,752 shares of the specialty chemicals company’s stock worth $16,138,000 after purchasing an additional 53,843 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Orion Engineered Carbons by 77.8% in the 3rd quarter. Wells Fargo & Company MN now owns 30,580 shares of the specialty chemicals company’s stock worth $982,000 after purchasing an additional 13,379 shares during the period. Northern Trust Corp raised its holdings in shares of Orion Engineered Carbons by 198.7% in the 2nd quarter. Northern Trust Corp now owns 34,251 shares of the specialty chemicals company’s stock worth $1,056,000 after purchasing an additional 22,786 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of Orion Engineered Carbons by 25.4% in the 3rd quarter. Brown Advisory Inc. now owns 34,561 shares of the specialty chemicals company’s stock worth $1,109,000 after purchasing an additional 6,992 shares during the period. Hedge funds and other institutional investors own 92.93% of the company’s stock.
OEC has been the topic of a number of research reports. UBS Group upgraded Orion Engineered Carbons from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, November 20th. Northcoast Research restated a “buy” rating on shares of Orion Engineered Carbons in a report on Tuesday. ValuEngine upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Saturday, February 16th. Finally, JPMorgan Chase & Co. downgraded Orion Engineered Carbons from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $31.00 to $20.00 in a report on Monday. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $33.00.
Orion Engineered Carbons (NYSE:OEC) last announced its earnings results on Thursday, March 7th. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $385.96 million for the quarter, compared to the consensus estimate of $382.40 million. Orion Engineered Carbons had a return on equity of 97.17% and a net margin of 7.70%. On average, equities analysts forecast that Orion Engineered Carbons SA will post 2.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. Orion Engineered Carbons’s payout ratio is currently 36.20%.
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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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