Orion Engineered Carbons (OEC) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Orion Engineered Carbons (NYSE:OEC) from a buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “
Several other equities research analysts also recently issued reports on the stock. Northcoast Research set a $35.00 target price on shares of Orion Engineered Carbons and gave the company a buy rating in a research note on Monday, February 26th. KeyCorp reiterated a buy rating and issued a $33.00 target price (up from $29.00) on shares of Orion Engineered Carbons in a research note on Monday, February 26th. ValuEngine downgraded shares of Orion Engineered Carbons from a strong-buy rating to a buy rating in a research note on Monday, April 2nd. Jefferies Group began coverage on shares of Orion Engineered Carbons in a research note on Monday, January 22nd. They issued a buy rating for the company. Finally, UBS reiterated a neutral rating and issued a $29.00 target price (up from $23.00) on shares of Orion Engineered Carbons in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Orion Engineered Carbons has a consensus rating of Buy and a consensus target price of $28.88.
Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings data on Thursday, February 22nd. The specialty chemicals company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. Orion Engineered Carbons had a net margin of 5.69% and a return on equity of 123.23%. The company had revenue of $339.76 million during the quarter. sell-side analysts expect that Orion Engineered Carbons will post 2.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 30th. Shareholders of record on Wednesday, June 20th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $0.80 annualized dividend and a yield of 2.90%. Orion Engineered Carbons’s dividend payout ratio (DPR) is presently 49.08%.
A number of hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its position in Orion Engineered Carbons by 15.7% during the second quarter. Northern Trust Corp now owns 11,721 shares of the specialty chemicals company’s stock worth $234,000 after acquiring an additional 1,594 shares during the last quarter. First Mercantile Trust Co. lifted its position in Orion Engineered Carbons by 24.5% during the fourth quarter. First Mercantile Trust Co. now owns 16,540 shares of the specialty chemicals company’s stock worth $423,000 after acquiring an additional 3,260 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Orion Engineered Carbons during the fourth quarter worth approximately $136,000. Wells Fargo & Company MN lifted its position in Orion Engineered Carbons by 63.7% during the third quarter. Wells Fargo & Company MN now owns 14,964 shares of the specialty chemicals company’s stock worth $336,000 after acquiring an additional 5,823 shares during the last quarter. Finally, Keybank National Association OH lifted its position in Orion Engineered Carbons by 15.2% during the fourth quarter. Keybank National Association OH now owns 69,000 shares of the specialty chemicals company’s stock worth $1,766,000 after acquiring an additional 9,100 shares during the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.
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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