Orion Engineered Carbons S.A. (NYSE:OEC) Plans $0.02 Quarterly Dividend

Orion Engineered Carbons S.A. (NYSE:OECGet Rating) declared a quarterly dividend on Thursday, June 30th, Zacks reports. Investors of record on Wednesday, September 21st will be given a dividend of 0.021 per share by the specialty chemicals company on Tuesday, October 4th. This represents a $0.08 annualized dividend and a yield of 0.53%. The ex-dividend date is Tuesday, September 20th.

Orion Engineered Carbons has decreased its dividend by an average of 70.4% annually over the last three years. Orion Engineered Carbons has a payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Orion Engineered Carbons to earn $2.67 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 3.0%.

Orion Engineered Carbons stock opened at $15.75 on Friday. The business’s 50-day simple moving average is $17.18 and its 200 day simple moving average is $17.06. The stock has a market cap of $956.80 million, a price-to-earnings ratio of 6.67 and a beta of 1.62. Orion Engineered Carbons has a 12-month low of $13.84 and a 12-month high of $20.99. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 1.66.

Orion Engineered Carbons (NYSE:OECGet Rating) last released its earnings results on Thursday, May 5th. The specialty chemicals company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). Orion Engineered Carbons had a net margin of 8.60% and a return on equity of 33.42%. The company had revenue of $484.50 million during the quarter, compared to analyst estimates of $433.84 million. During the same period in the previous year, the company posted $0.51 EPS. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. As a group, sell-side analysts expect that Orion Engineered Carbons will post 2.3 EPS for the current year.

In other Orion Engineered Carbons news, CFO Jeffrey Glajch purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were bought at an average price of $17.03 per share, with a total value of $85,150.00. Following the completion of the transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $255,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OEC. EVR Research LP acquired a new stake in shares of Orion Engineered Carbons during the first quarter worth about $9,104,000. Dimensional Fund Advisors LP grew its holdings in shares of Orion Engineered Carbons by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 418,087 shares of the specialty chemicals company’s stock worth $6,677,000 after buying an additional 138,509 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Orion Engineered Carbons by 17.1% during the first quarter. Invesco Ltd. now owns 828,485 shares of the specialty chemicals company’s stock worth $13,230,000 after buying an additional 121,279 shares in the last quarter. Divisar Capital Management LLC grew its holdings in shares of Orion Engineered Carbons by 32.6% during the first quarter. Divisar Capital Management LLC now owns 467,401 shares of the specialty chemicals company’s stock worth $7,464,000 after buying an additional 115,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Orion Engineered Carbons by 49.7% during the first quarter. Goldman Sachs Group Inc. now owns 328,775 shares of the specialty chemicals company’s stock worth $5,251,000 after buying an additional 109,202 shares in the last quarter. 82.69% of the stock is currently owned by institutional investors.

Separately, StockNews.com lowered Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th.

Orion Engineered Carbons Company Profile (Get Rating)

Orion Engineered Carbons SA, together with its subsidiaries, manufactures and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for polymers, coatings, and battery electrodes.

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Dividend History for Orion Engineered Carbons (NYSE:OEC)

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