Orion Engineered Carbons (NYSE:OEC) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Orion Engineered Carbons (NYSE:OEC – Get Rating) in a research report released on Monday, The Fly reports. The brokerage issued an outperform rating and a $31.00 price objective on the specialty chemicals company’s stock.

A number of other analysts have also recently issued reports on OEC. StockNews.com raised Orion Engineered Carbons from a hold rating to a buy rating in a report on Thursday, December 8th. UBS Group raised their price target on Orion Engineered Carbons from $23.00 to $24.00 and gave the company a buy rating in a report on Wednesday, January 11th. Finally, TheStreet raised Orion Engineered Carbons from a c+ rating to a b- rating in a report on Tuesday, January 31st.

Orion Engineered Carbons Stock Performance

Shares of OEC opened at $23.95 on Monday. The stock’s 50-day simple moving average is $21.94 and its 200 day simple moving average is $18.49. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.76 and a beta of 1.65. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.91 and a current ratio of 1.41. Orion Engineered Carbons has a 52-week low of $12.87 and a 52-week high of $26.91.

Orion Engineered Carbons (NYSE:OEC – Get Rating) last issued its quarterly earnings data on Friday, February 17th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The business had revenue of $462.10 million for the quarter, compared to analysts’ expectations of $441.89 million. Orion Engineered Carbons had a return on equity of 28.89% and a net margin of 5.23%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. Research analysts forecast that Orion Engineered Carbons will post 2.58 EPS for the current fiscal year.

Orion Engineered Carbons Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Tuesday, March 21st will be issued a $0.0207 dividend. The ex-dividend date of this dividend is Monday, March 20th. This represents a $0.08 annualized dividend and a dividend yield of 0.35%. Orion Engineered Carbons’s payout ratio is currently 4.60%.

Institutional Trading of Orion Engineered Carbons

Several institutional investors and hedge funds have recently modified their holdings of OEC. Bank of New York Mellon Corp increased its position in shares of Orion Engineered Carbons by 24.5% during the 1st quarter. Bank of New York Mellon Corp now owns 241,448 shares of the specialty chemicals company’s stock valued at $3,857,000 after purchasing an additional 47,440 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Orion Engineered Carbons by 49.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 418,087 shares of the specialty chemicals company’s stock valued at $6,677,000 after purchasing an additional 138,509 shares during the last quarter. Sei Investments Co. increased its position in shares of Orion Engineered Carbons by 5.8% during the 1st quarter. Sei Investments Co. now owns 63,814 shares of the specialty chemicals company’s stock valued at $1,020,000 after purchasing an additional 3,487 shares during the last quarter. Covestor Ltd bought a new position in shares of Orion Engineered Carbons during the 1st quarter valued at about $48,000. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Orion Engineered Carbons by 20.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 15,292 shares of the specialty chemicals company’s stock valued at $244,000 after purchasing an additional 2,615 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Orion Engineered Carbons

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Orion Engineered Carbons SA engages in the production and supply of carbon black. It operates through the following segments: Specialty Carbon Black and Rubber Carbon Black. The Specialty Carbon Black segment manufactures specialty carbon black at multiple sites for a broad range of specialized applications.