Zacks Investment Research downgraded shares of Orion Engineered Carbons (NYSE:OEC) from a hold rating to a sell rating in a research note published on Friday morning, Zacks.com reports.

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. “

A number of other research firms also recently issued reports on OEC. ValuEngine upgraded shares of Orion Engineered Carbons from a sell rating to a hold rating in a report on Monday, June 1st. UBS Group increased their target price on shares of Orion Engineered Carbons from $13.00 to $15.00 and gave the company a buy rating in a research report on Friday, June 19th. Finally, Barclays cut shares of Orion Engineered Carbons from an equal weight rating to an underweight rating and lowered their price target for the stock from $8.00 to $7.00 in a report on Monday, May 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $13.00.

Shares of NYSE OEC opened at $10.44 on Friday. The company has a market capitalization of $587.93 million, a PE ratio of 7.51 and a beta of 1.86. The company has a quick ratio of 1.07, a current ratio of 1.52 and a debt-to-equity ratio of 3.72. The stock’s 50 day moving average price is $10.17 and its 200-day moving average price is $12.85. Orion Engineered Carbons has a twelve month low of $5.93 and a twelve month high of $21.87.

Orion Engineered Carbons (NYSE:OEC) last announced its quarterly earnings data on Thursday, May 7th. The specialty chemicals company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. Orion Engineered Carbons had a return on equity of 66.08% and a net margin of 6.02%. The firm had revenue of $336.00 million during the quarter, compared to the consensus estimate of $335.46 million. During the same quarter in the prior year, the company earned $0.40 EPS. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, research analysts expect that Orion Engineered Carbons will post 0.67 EPS for the current fiscal year.

In other Orion Engineered Carbons news, CEO Corning F. Painter acquired 50,000 shares of Orion Engineered Carbons stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $9.88 per share, for a total transaction of $494,000.00. Also, CAO Isfort Andre Schulze bought 5,000 shares of the stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $7.32 per share, for a total transaction of $36,600.00. Following the acquisition, the chief accounting officer now directly owns 14,187 shares in the company, valued at $103,848.84. The disclosure for this purchase can be found here. Insiders purchased a total of 69,750 shares of company stock worth $639,308 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in shares of Orion Engineered Carbons in the fourth quarter valued at approximately $33,000. NumerixS Investment Technologies Inc bought a new stake in Orion Engineered Carbons during the 4th quarter worth approximately $56,000. First Quadrant L P CA purchased a new stake in Orion Engineered Carbons in the 1st quarter worth approximately $29,000. State of Tennessee Treasury Department bought a new position in Orion Engineered Carbons in the 4th quarter valued at $165,000. Finally, Bank of Montreal Can grew its position in shares of Orion Engineered Carbons by 35.6% during the 4th quarter. Bank of Montreal Can now owns 8,878 shares of the specialty chemicals company’s stock valued at $172,000 after purchasing an additional 2,330 shares in the last quarter. 87.13% of the stock is currently owned by hedge funds and other institutional investors.

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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