Orion Engineered Carbons S.A (OEC) Plans $0.17 Quarterly Dividend
Orion Engineered Carbons S.A (NYSE:OEC) declared a quarterly dividend on Friday, June 30th, Zacks reports. Stockholders of record on Wednesday, September 20th will be paid a dividend of 0.169 per share by the specialty chemicals company on Friday, September 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, September 19th.
Orion Engineered Carbons S.A has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Orion Engineered Carbons S.A to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.67 annual dividend with an expected future payout ratio of 33.3%.
Orion Engineered Carbons S.A (OEC) opened at 21.50 on Thursday. The stock has a market cap of $1.28 billion, a PE ratio of 22.99 and a beta of 0.51. Orion Engineered Carbons S.A has a one year low of $17.15 and a one year high of $24.55. The stock has a 50 day moving average price of $21.13 and a 200-day moving average price of $20.13.
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A hedge fund recently raised its stake in Orion Engineered Carbons S.A stock. Northern Trust Corp grew its stake in Orion Engineered Carbons S.A (NYSE:OEC) by 15.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,721 shares of the specialty chemicals company’s stock after purchasing an additional 1,594 shares during the quarter. Northern Trust Corp’s holdings in Orion Engineered Carbons S.A were worth $234,000 as of its most recent filing with the SEC. Institutional investors own 37.23% of the company’s stock.
OEC has been the subject of a number of analyst reports. ValuEngine lowered Orion Engineered Carbons S.A from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded Orion Engineered Carbons S.A from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded Orion Engineered Carbons S.A from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) upgraded Orion Engineered Carbons S.A from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Friday, July 14th. Finally, TheStreet upgraded Orion Engineered Carbons S.A from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.60.
About Orion Engineered Carbons S.A
Orion Engineered Carbons SA is a producer of carbon black. The Company operates through two segments: Specialty Carbon Black and Rubber Carbon Black. The Specialty Carbon Black segment is engaged in the production of specialty carbon black. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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