Orion Engineered Carbons (NYSE:OEC) Upgraded to “Hold” by Zacks Investment Research

Orion Engineered Carbons (NYSE:OECGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday, 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. “

OEC has been the topic of a number of other reports. UBS Group decreased their price target on Orion Engineered Carbons from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 4th. StockNews.com initiated coverage on Orion Engineered Carbons in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays decreased their price target on Orion Engineered Carbons from $17.00 to $16.00 in a research note on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Orion Engineered Carbons has a consensus rating of “Hold” and an average target price of $22.40.

Shares of OEC stock opened at $14.92 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 1.97. Orion Engineered Carbons has a twelve month low of $14.05 and a twelve month high of $22.45. The company has a market capitalization of $904.99 million, a P/E ratio of 6.72 and a beta of 1.73. The business’s 50 day moving average is $15.77 and its two-hundred day moving average is $17.57.

Orion Engineered Carbons (NYSE:OECGet Rating) last posted its quarterly earnings results on Thursday, February 17th. The specialty chemicals company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.15). Orion Engineered Carbons had a net margin of 8.71% and a return on equity of 37.37%. The business had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $374.51 million. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, equities analysts predict that Orion Engineered Carbons will post 2.08 earnings per share for the current fiscal year.

In related news, Director Mary A. Lindsey purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was bought at an average cost of $15.07 per share, with a total value of $150,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Corning F. Painter purchased 40,000 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was bought at an average cost of $15.19 per share, with a total value of $607,600.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 69,550 shares of company stock valued at $1,056,259. 0.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Equitec Proprietary Markets LLC raised its holdings in shares of Orion Engineered Carbons by 161.3% in the first quarter. Equitec Proprietary Markets LLC now owns 778,788 shares of the specialty chemicals company’s stock worth $12,437,000 after acquiring an additional 480,789 shares during the last quarter. Denali Advisors LLC increased its stake in Orion Engineered Carbons by 14.7% in the first quarter. Denali Advisors LLC now owns 111,341 shares of the specialty chemicals company’s stock valued at $1,778,000 after purchasing an additional 14,245 shares during the last quarter. Roubaix Capital LLC increased its stake in Orion Engineered Carbons by 27.0% in the first quarter. Roubaix Capital LLC now owns 368,443 shares of the specialty chemicals company’s stock valued at $5,884,000 after purchasing an additional 78,261 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its stake in Orion Engineered Carbons by 1.0% in the first quarter. Lawson Kroeker Investment Management Inc. NE now owns 204,917 shares of the specialty chemicals company’s stock valued at $3,273,000 after purchasing an additional 2,045 shares during the last quarter. Finally, Norges Bank acquired a new position in Orion Engineered Carbons in the fourth quarter valued at $10,268,000. 89.95% of the stock is owned by institutional investors.

About Orion Engineered Carbons (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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