Orion Engineered Carbons S.A. (NYSE:OEC) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in shares of Orion Engineered Carbons S.A. (NYSE:OEC – Get Rating) by 59.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,299 shares of the specialty chemicals company’s stock after purchasing an additional 35,203 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Orion Engineered Carbons worth $1,679,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd acquired a new position in Orion Engineered Carbons during the 1st quarter valued at approximately $48,000. Tower Research Capital LLC TRC increased its stake in Orion Engineered Carbons by 149.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,158 shares of the specialty chemicals company’s stock valued at $69,000 after purchasing an additional 3,090 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Orion Engineered Carbons in the 1st quarter valued at $117,000. Spire Wealth Management purchased a new stake in shares of Orion Engineered Carbons in the 3rd quarter valued at $119,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Orion Engineered Carbons by 16.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,974 shares of the specialty chemicals company’s stock valued at $178,000 after acquiring an additional 1,405 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on OEC shares. TheStreet raised shares of Orion Engineered Carbons from a “c+” rating to a “b-” rating in a report on Tuesday, January 31st. Credit Suisse Group started coverage on shares of Orion Engineered Carbons in a report on Monday, March 13th. They issued an “outperform” rating and a $31.00 price objective on the stock. StockNews.com started coverage on shares of Orion Engineered Carbons in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Orion Engineered Carbons from an “overweight” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a report on Friday, April 14th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Orion Engineered Carbons currently has an average rating of “Moderate Buy” and an average target price of $27.00.

Orion Engineered Carbons Stock Performance

Shares of NYSE OEC opened at $25.15 on Tuesday. The company’s fifty day moving average price is $24.68 and its 200 day moving average price is $21.78. Orion Engineered Carbons S.A. has a 1 year low of $12.87 and a 1 year high of $26.91. The company has a market capitalization of $1.48 billion, a PE ratio of 13.17 and a beta of 1.65. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.43.

Orion Engineered Carbons (NYSE:OEC – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The specialty chemicals company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Orion Engineered Carbons had a net margin of 5.67% and a return on equity of 29.94%. The firm had revenue of $500.70 million for the quarter, compared to the consensus estimate of $522.19 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Orion Engineered Carbons S.A. will post 2.5 earnings per share for the current year.

Orion Engineered Carbons Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Wednesday, May 17th will be given a dividend of $0.021 per share. The ex-dividend date of this dividend is Tuesday, May 16th. This is a boost from Orion Engineered Carbons’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a yield of 0.33%. Orion Engineered Carbons’s dividend payout ratio is currently 4.19%.

Insiders Place Their Bets

In related news, VP Carlos Quinones acquired 3,800 shares of Orion Engineered Carbons stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $23.98 per share, for a total transaction of $91,124.00. Following the completion of the transaction, the vice president now owns 52,335 shares of the company’s stock, valued at approximately $1,254,993.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Carlos Quinones acquired 3,800 shares of Orion Engineered Carbons stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $23.98 per share, for a total transaction of $91,124.00. Following the completion of the transaction, the vice president now owns 52,335 shares of the company’s stock, valued at approximately $1,254,993.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Glajch acquired 10,000 shares of Orion Engineered Carbons stock in a transaction on Wednesday, March 15th. The shares were bought at an average price of $23.82 per share, with a total value of $238,200.00. Following the completion of the transaction, the chief financial officer now directly owns 60,666 shares of the company’s stock, valued at approximately $1,445,064.12. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by company insiders.

Orion Engineered Carbons Profile

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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.