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

Orion Engineered Carbons (NYSE:OEC) had its price objective lowered by UBS Group from $16.00 to $15.00 in a report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

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

NYSE OEC traded up $0.79 during trading on Monday, hitting $8.25. The company had a trading volume of 939,200 shares, compared to its average volume of 575,217. The company has a current ratio of 1.78, a quick ratio of 1.20 and a debt-to-equity ratio of 3.39. Orion Engineered Carbons has a one year low of $5.93 and a one year high of $21.87. The company has a market cap of $470.92 million, a price-to-earnings ratio of 5.85 and a beta of 1.38. The company’s fifty day moving average is $13.29 and its 200-day moving average is $16.64.

Orion Engineered Carbons (NYSE:OEC) last issued its quarterly earnings data on Thursday, February 20th. The specialty chemicals company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Orion Engineered Carbons had a net margin of 5.89% and a return on equity of 64.30%. The business had revenue of $322.43 million during the quarter, compared to analyst estimates of $365.94 million. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Orion Engineered Carbons will post 1.49 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Orion Engineered Carbons’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 9.70%. Orion Engineered Carbons’s dividend payout ratio is 42.78%.

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

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Orion Engineered Carbons by 16.2% during the 3rd quarter. State Street Corp now owns 1,054,028 shares of the specialty chemicals company’s stock valued at $17,613,000 after acquiring an additional 146,566 shares during the last quarter. Barclays PLC boosted its holdings in shares of Orion Engineered Carbons by 57.9% during the 3rd quarter. Barclays PLC now owns 60,640 shares of the specialty chemicals company’s stock valued at $1,013,000 after acquiring an additional 22,236 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Orion Engineered Carbons during the 4th quarter valued at about $774,000. California State Teachers Retirement System boosted its holdings in shares of Orion Engineered Carbons by 2.4% during the 3rd quarter. California State Teachers Retirement System now owns 93,918 shares of the specialty chemicals company’s stock valued at $1,569,000 after acquiring an additional 2,190 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Orion Engineered Carbons during the 3rd quarter valued at about $479,000. Institutional investors and hedge funds own 93.32% of the company’s stock.

Orion Engineered Carbons Company Profile

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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