Orion Engineered Carbons (NYSE:OEC) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Orion Engineered Carbons (NYSE:OECGet Rating) issued its quarterly earnings data on Thursday. The specialty chemicals company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02), MarketWatch Earnings reports. The business had revenue of $484.50 million for the quarter, compared to analyst estimates of $433.84 million. Orion Engineered Carbons had a return on equity of 37.37% and a net margin of 8.71%. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. Orion Engineered Carbons updated its FY22 guidance to $2.00-$2.35 EPS.

Shares of NYSE OEC traded up $0.59 during mid-day trading on Friday, hitting $16.86. The company had a trading volume of 1,156,866 shares, compared to its average volume of 385,769. The company has a market capitalization of $1.02 billion, a PE ratio of 7.14 and a beta of 1.64. The firm has a 50-day simple moving average of $15.61 and a two-hundred day simple moving average of $17.42. 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 one year low of $14.05 and a one year high of $22.09.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 22nd will be issued a $0.021 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, June 21st. Orion Engineered Carbons’s payout ratio is 3.39%.

In other Orion Engineered Carbons news, Director Kerry A. Galvin purchased 6,550 shares of Orion Engineered Carbons stock in a transaction that occurred on Monday, February 28th. The stock was acquired at an average price of $15.58 per share, for a total transaction of $102,049.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corning F. Painter purchased 40,000 shares of Orion Engineered Carbons stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average price of $15.19 per share, with a total value of $607,600.00. The disclosure for this purchase can be found here. Insiders bought a total of 69,550 shares of company stock valued at $1,056,259 in the last 90 days. 0.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG boosted its holdings in shares of Orion Engineered Carbons by 102.7% during the third quarter. UBS Group AG now owns 2,663 shares of the specialty chemicals company’s stock worth $49,000 after acquiring an additional 1,349 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Orion Engineered Carbons by 478.9% during the third quarter. BNP Paribas Arbitrage SA now owns 12,123 shares of the specialty chemicals company’s stock worth $221,000 after acquiring an additional 10,029 shares during the period. Citigroup Inc. boosted its holdings in shares of Orion Engineered Carbons by 106.2% during the fourth quarter. Citigroup Inc. now owns 16,586 shares of the specialty chemicals company’s stock worth $304,000 after acquiring an additional 8,543 shares during the period. Deutsche Bank AG boosted its holdings in shares of Orion Engineered Carbons by 4.1% during the fourth quarter. Deutsche Bank AG now owns 42,842 shares of the specialty chemicals company’s stock worth $787,000 after acquiring an additional 1,668 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Orion Engineered Carbons by 43.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 50,332 shares of the specialty chemicals company’s stock worth $924,000 after acquiring an additional 15,233 shares during the period. Institutional investors and hedge funds own 82.69% of the company’s stock.

Several brokerages recently commented on OEC. StockNews.com began coverage on Orion Engineered Carbons in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised Orion Engineered Carbons from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, Barclays dropped their price target on Orion Engineered Carbons from $17.00 to $16.00 in a research note on Tuesday, February 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Orion Engineered Carbons currently has an average rating of “Hold” and a consensus target price of $22.40.

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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Earnings History for Orion Engineered Carbons (NYSE:OEC)

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