Insider Selling: OCI Partners LP (OCIP) Insider Sells $30,123.50 in Stock
OCI Partners LP (NYSE:OCIP) insider Nathaniel A. Gregory sold 5,477 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $5.50, for a total transaction of $30,123.50. Following the completion of the sale, the insider now owns 5,503 shares of the company’s stock, valued at approximately $30,266.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.
OCI Partners LP (NYSE:OCIP) traded down 1.89% on Friday, reaching $5.20. 3,917 shares of the company traded hands. The firm has a 50 day moving average of $5.78 and a 200-day moving average of $6.55. The stock’s market capitalization is $452.38 million. OCI Partners LP has a one year low of $4.95 and a one year high of $8.78.
Several equities research analysts have weighed in on the stock. TheStreet upgraded shares of OCI Partners from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Citigroup Inc. reduced their target price on shares of OCI Partners from $8.00 to $6.50 and set a “neutral” rating on the stock in a research note on Monday, August 8th.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. increased its position in shares of OCI Partners by 197.4% in the second quarter. Citigroup Inc. now owns 27,206 shares of the company’s stock valued at $205,000 after buying an additional 18,057 shares during the last quarter. Credit Capital Investments LLC increased its position in shares of OCI Partners by 655.0% in the second quarter. Credit Capital Investments LLC now owns 596,487 shares of the company’s stock valued at $596,000 after buying an additional 517,482 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of OCI Partners by 0.6% in the third quarter. Morgan Stanley now owns 9,489,471 shares of the company’s stock valued at $56,083,000 after buying an additional 53,977 shares during the last quarter. 13.80% of the stock is owned by hedge funds and other institutional investors.
About OCI Partners
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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