Orion Engineered Carbons SA (OEC) Sees Unusually-High Trading Volume
Shares of Orion Engineered Carbons SA (NYSE:OEC) saw unusually-strong trading volume on Wednesday . Approximately 54,576 shares changed hands during mid-day trading, an increase of 1% from the previous session’s volume of 54,223 shares.The stock last traded at $16.34 and had previously closed at $16.21.
A number of equities analysts have issued reports on OEC shares. TheStreet raised shares of Orion Engineered Carbons SA from a “sell” rating to a “hold” rating in a research note on Tuesday, May 31st. Zacks Investment Research raised shares of Orion Engineered Carbons SA from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday. Finally, BB&T Corp. started coverage on shares of Orion Engineered Carbons SA in a research note on Friday, June 10th. They issued a “buy” rating and a $24.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.40.
The stock has a market cap of $988.27 million and a P/E ratio of 21.75. The firm has a 50 day moving average of $16.16 and a 200-day moving average of $14.05.
Orion Engineered Carbons SA (NYSE:OEC) last released its quarterly earnings data on Friday, May 6th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. During the same quarter in the previous year, the company posted $0.32 EPS. The business had revenue of $246.30 million for the quarter, compared to analyst estimates of $265.65 million. The business’s quarterly revenue was down 15.2% on a year-over-year basis. Equities research analysts anticipate that Orion Engineered Carbons SA will post $1.24 EPS for the current year.
The company also recently announced a special dividend, which was paid on Wednesday, June 29th. Stockholders of record on Monday, June 6th were issued a $0.1885 dividend. The ex-dividend date was Thursday, June 2nd. This is an increase from Orion Engineered Carbons SA’s previous special dividend of $0.19.
Several hedge funds have recently made changes to their positions in OEC. Sei Investments Co. purchased a new stake in shares of Orion Engineered Carbons SA during the fourth quarter valued at approximately $1,813,000. Neuberger Berman Group LLC increased its stake in shares of Orion Engineered Carbons SA by 2.8% in the fourth quarter. Neuberger Berman Group LLC now owns 187,035 shares of the company’s stock valued at $2,357,000 after buying an additional 5,037 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Orion Engineered Carbons SA by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,381,851 shares of the company’s stock valued at $17,411,000 after buying an additional 75,451 shares in the last quarter.
Orion Engineered Carbons SA is a producer of carbon black. The Company conducts its operations through two segments: the Specialty Carbon Black segment and the Rubber Carbon Black segment. The Specialty Carbon Black segment is engaged in the production of specialty black carbon. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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