UBS Group Cuts Orion Engineered Carbons (NYSE:OEC) Price Target to $15.00

Orion Engineered Carbons (NYSE:OEC) had its target price reduced by UBS Group from $16.00 to $15.00 in a research report released on Monday morning, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the specialty chemicals company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Orion Engineered Carbons from a hold rating to a sell rating in a research report on Friday, March 13th. ValuEngine cut shares of Orion Engineered Carbons from a hold rating to a sell rating in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Orion Engineered Carbons has an average rating of Hold and a consensus price target of $18.67.

Shares of Orion Engineered Carbons stock traded up $0.79 on Monday, hitting $8.25. 939,200 shares of the company traded hands, compared to its average volume of 575,217. The stock has a market capitalization of $470.92 million, a P/E ratio of 5.85 and a beta of 1.38. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.20 and a current ratio of 1.78. Orion Engineered Carbons has a 52 week low of $5.93 and a 52 week high of $21.87. The business has a 50-day simple moving average of $13.29 and a 200 day simple moving average of $16.64.

Orion Engineered Carbons (NYSE:OEC) last released its quarterly earnings data on Thursday, February 20th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $322.43 million for the quarter, compared to analysts’ expectations of $365.94 million. Orion Engineered Carbons had a net margin of 5.89% and a return on equity of 64.30%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. Research analysts expect that Orion Engineered Carbons will post 1.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 9.70%. The ex-dividend date is Monday, March 9th. This is a boost from Orion Engineered Carbons’s previous quarterly dividend of $0.19. Orion Engineered Carbons’s payout ratio is currently 42.78%.

In other Orion Engineered Carbons news, VP Carlos Quinones purchased 3,600 shares of Orion Engineered Carbons stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $13.24 per share, for a total transaction of $47,664.00. Following the completion of the transaction, the vice president now owns 39,879 shares of the company’s stock, valued at approximately $527,997.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Reers purchased 5,000 shares of Orion Engineered Carbons stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $11.35 per share, for a total transaction of $56,750.00. Following the transaction, the insider now directly owns 21,268 shares of the company’s stock, valued at approximately $241,391.80. The disclosure for this purchase can be found here. Insiders purchased 14,850 shares of company stock worth $184,862 in the last 90 days.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP bought a new stake in Orion Engineered Carbons in the fourth quarter worth $33,000. Aigen Investment Management LP purchased a new position in Orion Engineered Carbons during the fourth quarter worth $37,000. NumerixS Investment Technologies Inc purchased a new position in Orion Engineered Carbons during the fourth quarter worth $56,000. SG Americas Securities LLC purchased a new position in Orion Engineered Carbons during the fourth quarter worth $149,000. Finally, State of Tennessee Treasury Department purchased a new position in Orion Engineered Carbons during the fourth quarter worth $165,000. Institutional investors own 93.32% of the company’s stock.

About Orion Engineered Carbons

Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.

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