Skyline Asset Management LP lowered its position in shares of Orion Engineered Carbons SA (NYSE:OEC) by 16.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 442,800 shares of the specialty chemicals company’s stock after selling 84,600 shares during the period. Orion Engineered Carbons accounts for approximately 1.7% of Skyline Asset Management LP’s portfolio, making the stock its 29th largest position. Skyline Asset Management LP owned 0.74% of Orion Engineered Carbons worth $9,480,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of OEC. FMR LLC boosted its stake in Orion Engineered Carbons by 3.7% in the first quarter. FMR LLC now owns 6,003,552 shares of the specialty chemicals company’s stock valued at $114,007,000 after acquiring an additional 213,088 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Orion Engineered Carbons by 28.6% in the first quarter. Victory Capital Management Inc. now owns 4,830,328 shares of the specialty chemicals company’s stock valued at $91,728,000 after acquiring an additional 1,075,106 shares in the last quarter. Millennium Management LLC boosted its stake in Orion Engineered Carbons by 187.5% in the fourth quarter. Millennium Management LLC now owns 1,641,052 shares of the specialty chemicals company’s stock valued at $41,486,000 after acquiring an additional 1,070,346 shares in the last quarter. First Pacific Advisors LP boosted its stake in Orion Engineered Carbons by 9.5% in the first quarter. First Pacific Advisors LP now owns 1,590,292 shares of the specialty chemicals company’s stock valued at $30,200,000 after acquiring an additional 137,627 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in Orion Engineered Carbons by 27.0% in the first quarter. Peregrine Capital Management LLC now owns 972,719 shares of the specialty chemicals company’s stock valued at $18,472,000 after acquiring an additional 207,043 shares in the last quarter. Hedge funds and other institutional investors own 93.20% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, July 16th. Barclays set a $24.00 target price on shares of Orion Engineered Carbons and gave the stock a “hold” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.50.
NYSE OEC traded up $0.48 during trading hours on Friday, hitting $20.11. 5,281 shares of the stock were exchanged, compared to its average volume of 827,177. The company has a market cap of $1.19 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. Orion Engineered Carbons SA has a 12-month low of $17.52 and a 12-month high of $36.55. The stock has a 50-day moving average of $19.78. The company has a current ratio of 1.81, a quick ratio of 1.27 and a debt-to-equity ratio of 3.76.
Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.08). The firm had revenue of $384.71 million for the quarter, compared to analysts’ expectations of $412.14 million. Orion Engineered Carbons had a return on equity of 82.03% and a net margin of 7.47%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts expect that Orion Engineered Carbons SA will post 1.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.80 annualized dividend and a yield of 3.98%. Orion Engineered Carbons’s dividend payout ratio is currently 36.20%.
About Orion Engineered Carbons
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.
Read More: What are the benefits of investing in REITs?
Receive News & Ratings for Orion Engineered Carbons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion Engineered Carbons and related companies with MarketBeat.com's FREE daily email newsletter.