Zacks Investment Research downgraded shares of Orion Engineered Carbons (NYSE:OEC) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “

Several other equities analysts have also recently commented on OEC. Barclays set a $24.00 price target on shares of Orion Engineered Carbons and gave the company a hold rating in a report on Friday, May 3rd. CJS Securities assumed coverage on shares of Orion Engineered Carbons in a report on Thursday, March 21st. They issued a market outperform rating for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $31.50.

Orion Engineered Carbons stock opened at $18.27 on Tuesday. The firm’s fifty day moving average is $19.68. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.27 and a current ratio of 1.81. Orion Engineered Carbons has a 12 month low of $17.52 and a 12 month high of $36.55. The stock has a market cap of $1.11 billion, a PE ratio of 8.27, a P/E/G ratio of 0.95 and a beta of 1.14.

Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.08). Orion Engineered Carbons had a net margin of 7.47% and a return on equity of 82.03%. The company had revenue of $384.71 million for the quarter, compared to analysts’ expectations of $412.14 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. On average, research analysts anticipate that Orion Engineered Carbons will post 1.97 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Thursday, September 19th. Orion Engineered Carbons’s dividend payout ratio is presently 36.20%.

Large investors have recently modified their holdings of the stock. First Manhattan Co. boosted its holdings in Orion Engineered Carbons by 6.8% in the first quarter. First Manhattan Co. now owns 314,050 shares of the specialty chemicals company’s stock worth $5,963,000 after purchasing an additional 20,000 shares in the last quarter. Mraz Amerine & Associates Inc. bought a new stake in Orion Engineered Carbons during the first quarter valued at about $286,000. Bank of New York Mellon Corp boosted its holdings in Orion Engineered Carbons by 1,185.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,362,704 shares of the specialty chemicals company’s stock valued at $34,450,000 after acquiring an additional 1,256,698 shares during the period. Boston Partners boosted its holdings in Orion Engineered Carbons by 3.5% during the first quarter. Boston Partners now owns 257,080 shares of the specialty chemicals company’s stock valued at $4,882,000 after acquiring an additional 8,750 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Orion Engineered Carbons by 13.7% during the fourth quarter. Two Sigma Investments LP now owns 339,760 shares of the specialty chemicals company’s stock valued at $8,589,000 after acquiring an additional 41,032 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

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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