Orion Engineered Carbons SA (OEC) Receives Average Rating of “Buy” from Brokerages
Orion Engineered Carbons SA (NYSE:OEC) has been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $34.40.
A number of research firms have recently weighed in on OEC. Zacks Investment Research cut Orion Engineered Carbons from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine lowered Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Northcoast Research reiterated a “buy” rating and issued a $40.00 target price on shares of Orion Engineered Carbons in a research note on Tuesday, August 7th. Finally, Loop Capital initiated coverage on Orion Engineered Carbons in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $40.00 target price for the company.
Shares of NYSE OEC traded down $0.05 during trading on Monday, reaching $23.81. The company had a trading volume of 436,700 shares, compared to its average volume of 531,974. Orion Engineered Carbons has a twelve month low of $22.25 and a twelve month high of $36.55. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 14.61 and a beta of 1.09. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 4.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 17th. This represents a $0.80 annualized dividend and a yield of 3.36%. Orion Engineered Carbons’s payout ratio is currently 49.08%.
Institutional investors have recently added to or reduced their stakes in the stock. Sapphire Star Partners LP acquired a new position in Orion Engineered Carbons in the third quarter valued at $101,000. Quantbot Technologies LP acquired a new position in Orion Engineered Carbons in the third quarter valued at $107,000. Dynamic Technology Lab Private Ltd acquired a new position in Orion Engineered Carbons in the second quarter valued at $230,000. Verition Fund Management LLC acquired a new position in Orion Engineered Carbons in the second quarter valued at $248,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Orion Engineered Carbons in the second quarter valued at $263,000. Hedge funds and other institutional investors own 92.31% of the company’s stock.
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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