Pittenger & Anderson Inc. bought a new stake in shares of Orion Engineered Carbons SA (NYSE:OEC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,000 shares of the specialty chemicals company’s stock, valued at approximately $514,000.

Several other large investors also recently added to or reduced their stakes in OEC. Engineers Gate Manager LP lifted its position in shares of Orion Engineered Carbons by 5.4% during the 2nd quarter. Engineers Gate Manager LP now owns 50,874 shares of the specialty chemicals company’s stock worth $1,569,000 after buying an additional 2,609 shares during the last quarter. A.R.T. Advisors LLC lifted its position in shares of Orion Engineered Carbons by 6.1% during the 1st quarter. A.R.T. Advisors LLC now owns 48,800 shares of the specialty chemicals company’s stock worth $1,322,000 after buying an additional 2,800 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Orion Engineered Carbons by 8.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 64,467 shares of the specialty chemicals company’s stock worth $1,989,000 after buying an additional 5,096 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Orion Engineered Carbons by 28.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 28,150 shares of the specialty chemicals company’s stock worth $868,000 after buying an additional 6,150 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Orion Engineered Carbons during the 2nd quarter worth $230,000. Hedge funds and other institutional investors own 91.21% of the company’s stock.

Shares of OEC opened at $27.70 on Friday. Orion Engineered Carbons SA has a 12-month low of $22.25 and a 12-month high of $36.55. The company has a quick ratio of 1.40, a current ratio of 2.01 and a debt-to-equity ratio of 5.08. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 16.99 and a beta of 0.84.

Orion Engineered Carbons (NYSE:OEC) last issued its earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.17. Orion Engineered Carbons had a return on equity of 132.30% and a net margin of 7.95%. The business had revenue of $391.60 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. As a group, research analysts forecast that Orion Engineered Carbons SA will post 2.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Tuesday, December 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.80 dividend on an annualized basis and a yield of 2.89%. Orion Engineered Carbons’s payout ratio is presently 49.08%.

OEC has been the subject of several recent analyst reports. Northcoast Research restated a “buy” rating and set a $40.00 price objective on shares of Orion Engineered Carbons in a research report on Tuesday, August 7th. ValuEngine downgraded Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Zacks Investment Research downgraded Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Loop Capital initiated coverage on Orion Engineered Carbons in a research report on Wednesday, October 3rd. They set a “buy” rating and a $40.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Orion Engineered Carbons has an average rating of “Buy” and an average target price of $33.14.

Orion Engineered Carbons Company Profile

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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Institutional Ownership by Quarter for Orion Engineered Carbons (NYSE:OEC)

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