Tocqueville Asset Management L.P. bought a new stake in shares of Orion Engineered Carbons SA (NYSE:OEC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 67,500 shares of the specialty chemicals company’s stock, valued at approximately $1,445,000. Tocqueville Asset Management L.P. owned about 0.11% of Orion Engineered Carbons at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in OEC. Victory Capital Management Inc. raised its holdings in shares of Orion Engineered Carbons by 28.6% during 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 during the last quarter. FMR LLC increased its holdings in shares of 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 purchasing an additional 213,088 shares during the last quarter. Norges Bank acquired a new stake in shares of Orion Engineered Carbons in the fourth quarter valued at approximately $4,731,000. First Pacific Advisors LP increased its holdings in shares of 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 purchasing an additional 137,627 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Orion Engineered Carbons by 27.6% in the first quarter. Stephens Inc. AR now owns 136,325 shares of the specialty chemicals company’s stock valued at $2,589,000 after purchasing an additional 29,480 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
OEC has been the subject of several recent research reports. Loop Capital cut Orion Engineered Carbons from a “buy” rating to a “hold” rating and cut their price target for the company from $29.00 to $17.00 in a report on Monday, August 5th. Zacks Investment Research cut Orion Engineered Carbons from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Barclays set a $24.00 price target on Orion Engineered Carbons and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, TheStreet cut Orion Engineered Carbons from a “b-” rating to a “c+” rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Orion Engineered Carbons currently has a consensus rating of “Hold” and an average target price of $25.20.
NYSE:OEC opened at $12.62 on Thursday. The firm has a market capitalization of $735.05 million, a PE ratio of 5.71, a PEG ratio of 0.67 and a beta of 1.13. Orion Engineered Carbons SA has a one year low of $12.10 and a one year high of $36.25. The company has a debt-to-equity ratio of 3.81, a quick ratio of 1.23 and a current ratio of 1.77. The firm has a 50 day moving average of $18.12.
Orion Engineered Carbons (NYSE:OEC) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $399.02 million during the quarter, compared to analysts’ expectations of $391.68 million. Orion Engineered Carbons had a return on equity of 71.44% and a net margin of 5.64%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. As a group, sell-side analysts forecast that Orion Engineered Carbons SA will post 1.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.80 annualized dividend and a yield of 6.34%. Orion Engineered Carbons’s payout ratio is 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.
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