Orion Engineered Carbons SA (NYSE:OEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $20.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 10.93% from the stock’s current price.

According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Orion Engineered Carbons SA from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Orion Engineered Carbons SA currently has an average rating of “Buy” and a consensus target price of $19.00.

Orion Engineered Carbons SA (NYSE:OEC) opened at 18.03 on Wednesday. Orion Engineered Carbons SA has a 1-year low of $9.69 and a 1-year high of $19.41. The firm has a market cap of $1.07 billion, a P/E ratio of 22.20 and a beta of 0.54. The firm’s 50-day moving average price is $18.33 and its 200-day moving average price is $16.28.

Orion Engineered Carbons SA (NYSE:OEC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Orion Engineered Carbons SA had a net margin of 4.22% and a return on equity of 135.26%. The firm earned $247.89 million during the quarter, compared to analysts’ expectations of $254.85 million. During the same period in the previous year, the company earned $0.33 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. Equities research analysts anticipate that Orion Engineered Carbons SA will post $1.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 22nd were given a $0.1893 dividend. This represents a $0.76 annualized dividend and a yield of 4.20%. This is a boost from Orion Engineered Carbons SA’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, September 20th. Orion Engineered Carbons SA’s payout ratio is 93.83%.

Large investors have recently added to or reduced their stakes in the stock. Numeric Investors LLC bought a new stake in Orion Engineered Carbons SA during the second quarter valued at about $192,000. Weiss Multi Strategy Advisers LLC boosted its stake in Orion Engineered Carbons SA by 55.4% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 340,257 shares of the company’s stock valued at $5,407,000 after buying an additional 121,231 shares during the period. Nuveen Asset Management LLC boosted its stake in Orion Engineered Carbons SA by 63.0% in the second quarter. Nuveen Asset Management LLC now owns 221,487 shares of the company’s stock valued at $3,519,000 after buying an additional 85,631 shares during the period. Westfield Capital Management Co. LP bought a new stake in Orion Engineered Carbons SA during the second quarter valued at about $3,410,000. Finally, Adirondack Research & Management Inc. boosted its stake in Orion Engineered Carbons SA by 174.0% in the second quarter. Adirondack Research & Management Inc. now owns 85,664 shares of the company’s stock valued at $1,362,000 after buying an additional 54,405 shares during the period. 29.20% of the stock is owned by institutional investors.

Orion Engineered Carbons SA Company Profile

Orion Engineered Carbons SA is a producer of carbon black. The Company conducts its operations through two segments: the Specialty Carbon Black segment and the Rubber Carbon Black segment. The Specialty Carbon Black segment is engaged in the production of specialty black carbon. The Rubber Carbon Black segment is involved in the production of rubber carbon black.

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