UBS Group upgraded shares of Orion Engineered Carbons (NYSE:OEC) from a neutral rating to a buy rating in a report issued on Tuesday morning, 99wallstreet.com reports. The firm currently has $34.00 price objective on the specialty chemicals company’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Orion Engineered Carbons from a buy rating to a hold rating in a research note on Tuesday, August 7th. ValuEngine downgraded Orion Engineered Carbons from a hold rating to a sell rating in a research note on Wednesday, October 24th. Northcoast Research reissued a buy rating and issued a $40.00 price objective on shares of Orion Engineered Carbons in a research note on Tuesday, August 7th. Finally, Loop Capital began coverage on Orion Engineered Carbons in a research note on Wednesday, October 3rd. They issued a buy rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $34.67.

NYSE:OEC traded up $0.40 on Tuesday, hitting $24.92. The stock had a trading volume of 229 shares, compared to its average volume of 577,080. The firm has a market cap of $1.42 billion, a P/E ratio of 15.28 and a beta of 1.09. The company has a debt-to-equity ratio of 4.48, a quick ratio of 1.35 and a current ratio of 2.04. Orion Engineered Carbons has a 52 week low of $22.25 and a 52 week high of $36.55.

Orion Engineered Carbons (NYSE:OEC) last announced its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $394.00 million for the quarter, compared to analyst estimates of $333.14 million. Orion Engineered Carbons had a return on equity of 108.30% and a net margin of 8.22%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, equities analysts forecast that Orion Engineered Carbons will post 2.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, December 17th. Orion Engineered Carbons’s payout ratio is 49.08%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Sapphire Star Partners LP purchased a new stake in shares of Orion Engineered Carbons during the third quarter valued at approximately $101,000. Quantbot Technologies LP purchased a new stake in Orion Engineered Carbons in the third quarter worth $107,000. Dynamic Technology Lab Private Ltd purchased a new stake in Orion Engineered Carbons in the second quarter worth $230,000. Verition Fund Management LLC purchased a new stake in Orion Engineered Carbons in the second quarter worth $248,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Orion Engineered Carbons in the second quarter worth $263,000. 92.31% of the stock is owned by institutional investors.

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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Analyst Recommendations for Orion Engineered Carbons (NYSE:OEC)

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