Orion Engineered Carbons (NYSE:OEC) Sees Large Volume Increase

Shares of Orion Engineered Carbons SA (NYSE:OEC) saw strong trading volume on Friday . 6,281,924 shares changed hands during mid-day trading, an increase of 1,126% from the previous session’s volume of 512,273 shares.The stock last traded at $21.41 and had previously closed at $21.10.

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Orion Engineered Carbons from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $31.00 to $20.00 in a report on Monday, March 11th. ValuEngine cut shares of Orion Engineered Carbons from a “sell” rating to a “strong sell” rating in a report on Saturday, March 9th. Northcoast Research reissued a “buy” rating on shares of Orion Engineered Carbons in a report on Tuesday, March 12th. Barclays set a $24.00 target price on shares of Orion Engineered Carbons and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Zacks Investment Research cut shares of Orion Engineered Carbons from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Orion Engineered Carbons currently has an average rating of “Hold” and an average price target of $31.50.

The company has a current ratio of 1.81, a quick ratio of 1.27 and a debt-to-equity ratio of 3.76. The stock has a fifty day moving average price of $19.27. The firm has a market capitalization of $1.27 billion, a PE ratio of 10.39, a P/E/G ratio of 1.09 and a beta of 1.00.

Orion Engineered Carbons (NYSE:OEC) last issued its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.08). The business had revenue of $384.71 million during the quarter, compared to the consensus estimate of $412.14 million. Orion Engineered Carbons had a return on equity of 82.03% and a net margin of 7.47%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. On average, research analysts predict that Orion Engineered Carbons SA will post 1.97 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Orion Engineered Carbons by 3.7% in the 1st quarter. FMR LLC now owns 6,003,552 shares of the specialty chemicals company’s stock valued at $114,007,000 after purchasing an additional 213,088 shares during the last quarter. First Pacific Advisors LP lifted its stake in shares of Orion Engineered Carbons by 9.5% in the 1st quarter. First Pacific Advisors LP now owns 1,590,292 shares of the specialty chemicals company’s stock valued at $30,200,000 after purchasing an additional 137,627 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Orion Engineered Carbons by 2.0% in the 1st quarter. William Blair Investment Management LLC now owns 705,043 shares of the specialty chemicals company’s stock valued at $13,389,000 after purchasing an additional 13,540 shares during the last quarter. NumerixS Investment Technologies Inc lifted its stake in shares of Orion Engineered Carbons by 24,400.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 24,500 shares of the specialty chemicals company’s stock valued at $458,000 after purchasing an additional 24,400 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. acquired a new stake in shares of Orion Engineered Carbons in the 1st quarter valued at $286,000. 93.68% of the stock is currently owned by institutional investors.

About Orion Engineered Carbons (NYSE:OEC)

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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