Orion Engineered Carbons S.A. (NYSE:OEC – Get Rating) – Analysts at Jefferies Financial Group lifted their FY2024 EPS estimates for shares of Orion Engineered Carbons in a report released on Thursday, June 9th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will post earnings per share of $3.10 for the year, up from their prior estimate of $2.75. The consensus estimate for Orion Engineered Carbons’ current full-year earnings is $2.30 per share. Jefferies Financial Group also issued estimates for Orion Engineered Carbons’ FY2025 earnings at $3.60 EPS.
A number of other brokerages have also weighed in on OEC. Barclays reduced their price objective on shares of Orion Engineered Carbons from $17.00 to $16.00 in a report on Tuesday, February 22nd. StockNews.com downgraded shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.75.
Orion Engineered Carbons (NYSE:OEC – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The specialty chemicals company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $484.50 million during the quarter, compared to analyst estimates of $433.84 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. Orion Engineered Carbons’s revenue for the quarter was up 34.6% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 22nd will be given a $0.021 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Tuesday, June 21st. Orion Engineered Carbons’s dividend payout ratio (DPR) is 3.39%.
In related news, CFO Jeffrey Glajch bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were purchased at an average cost of $17.03 per share, with a total value of $85,150.00. Following the transaction, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at approximately $255,450. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC grew its position in Orion Engineered Carbons by 36.7% during the 4th quarter. Lazard Asset Management LLC now owns 2,371 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 636 shares during the last quarter. Covestor Ltd purchased a new position in Orion Engineered Carbons during the 1st quarter worth $48,000. UBS Group AG grew its position in Orion Engineered Carbons by 102.7% during the 3rd quarter. UBS Group AG now owns 2,663 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 1,349 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Orion Engineered Carbons during the 1st quarter worth $117,000. Finally, Dupont Capital Management Corp purchased a new position in Orion Engineered Carbons during the 1st quarter worth $145,000. 82.69% of the stock is currently 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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