Bank of Montreal Can trimmed its position in Orion Engineered Carbons SA (NYSE:OEC) by 70.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,292 shares of the specialty chemicals company’s stock after selling 122,670 shares during the quarter. Bank of Montreal Can owned 0.09% of Orion Engineered Carbons worth $1,679,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Pittenger & Anderson Inc. bought a new position in Orion Engineered Carbons in the third quarter valued at approximately $514,000. Dalton Greiner Hartman Maher & Co. increased its stake in Orion Engineered Carbons by 4.7% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,133,338 shares of the specialty chemicals company’s stock valued at $36,380,000 after acquiring an additional 51,068 shares during the last quarter. Northern Trust Corp increased its stake in 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 valued at $1,056,000 after acquiring an additional 22,786 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Orion Engineered Carbons by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 117,487 shares of the specialty chemicals company’s stock valued at $3,624,000 after acquiring an additional 8,446 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Orion Engineered Carbons by 8.6% in the second quarter. Advisors Asset Management Inc. now owns 64,467 shares of the specialty chemicals company’s stock valued at $1,989,000 after acquiring an additional 5,096 shares during the last quarter. 91.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of Orion Engineered Carbons stock opened at $24.68 on Friday. Orion Engineered Carbons SA has a fifty-two week low of $22.25 and a fifty-two week high of $36.55. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 4.48. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.14 and a beta of 1.09.

Orion Engineered Carbons (NYSE:OEC) last issued its earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Orion Engineered Carbons had a net margin of 8.22% and a return on equity of 108.30%. The firm had revenue of $394.00 million for the quarter, compared to analyst estimates of $333.14 million. During the same quarter last year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Equities analysts anticipate that Orion Engineered Carbons SA will post 2.2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Tuesday, December 18th will be given a $0.20 dividend. The ex-dividend date is Monday, December 17th. This represents a $0.80 dividend on an annualized basis and a yield of 3.24%. Orion Engineered Carbons’s dividend payout ratio is currently 49.08%.

A number of research analysts recently issued reports on OEC shares. Loop Capital started coverage on shares of Orion Engineered Carbons in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $40.00 price objective on the stock. Northcoast Research reissued a “buy” rating and issued a $40.00 price objective on shares of Orion Engineered Carbons in a research note on Tuesday, August 7th. Zacks Investment Research cut shares of Orion Engineered Carbons from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, ValuEngine cut shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Orion Engineered Carbons has an average rating of “Buy” and a consensus price target of $33.83.

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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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Institutional Ownership by Quarter for Orion Engineered Carbons (NYSE:OEC)

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