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 85,384 shares changed hands during trading, an increase of 28% from the previous session’s volume of 66,868 shares.The stock last traded at $18.18 and had previously closed at $18.40.
OEC has been the subject of several recent analyst reports. TheStreet upgraded shares of Orion Engineered Carbons SA from a “sell” rating to a “hold” rating in a research note on Tuesday, May 31st. BB&T Corp. initiated 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 target price for the company. Zacks Investment Research upgraded shares of Orion Engineered Carbons SA from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, July 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Orion Engineered Carbons SA from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.60.
The stock has a 50-day moving average price of $16.61 and a 200-day moving average price of $14.82. The company has a market capitalization of $1.06 billion and a price-to-earnings ratio of 21.95.
Orion Engineered Carbons SA (NYSE:OEC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. During the same period last year, the firm posted $0.33 earnings per share. The company earned $247.89 million during the quarter, compared to analysts’ expectations of $254.85 million. Orion Engineered Carbons SA’s revenue was down 12.2% on a year-over-year basis. Equities analysts expect that Orion Engineered Carbons SA will post $1.39 EPS for the current year.
A hedge fund recently raised its stake in Orion Engineered Carbons SA stock. Victory Capital Management Inc. increased its position in shares of Orion Engineered Carbons SA (NYSE:OEC) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,381,851 shares of the company’s stock after buying an additional 75,451 shares during the period. Victory Capital Management Inc. owned about 2.32% of Orion Engineered Carbons SA worth $17,411,000 as of its most recent filing with the SEC.
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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