OCI Partners LP (OCIP) Insider Nathaniel A. Gregory Buys 10,000 Shares
OCI Partners LP (NYSE:OCIP) insider Nathaniel A. Gregory purchased 10,000 shares of the company’s stock in a transaction on Friday, September 8th. The stock was acquired at an average cost of $8.35 per share, for a total transaction of $83,500.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at $83,500. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of OCI Partners LP (OCIP) opened at 8.30 on Tuesday. OCI Partners LP has a 52-week low of $4.95 and a 52-week high of $10.35. The company’s market capitalization is $722.08 million. The stock’s 50 day moving average price is $8.49 and its 200-day moving average price is $8.96.
OCI Partners (NYSE:OCIP) last released its quarterly earnings results on Monday, August 7th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.14. The firm had revenue of $73.97 million for the quarter. OCI Partners had a negative return on equity of 10.52% and a negative net margin of 5.60%. On average, analysts expect that OCI Partners LP will post $0.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.48 annualized dividend and a yield of 5.78%. OCI Partners’s payout ratio is currently -252.63%.
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A number of large investors have recently added to or reduced their stakes in OCIP. Morgan Stanley increased its stake in OCI Partners by 4.3% during the 1st quarter. Morgan Stanley now owns 10,376,362 shares of the basic materials company’s stock worth $103,764,000 after acquiring an additional 428,344 shares during the period. Cowen Inc. increased its stake in OCI Partners by 117.9% during the 2nd quarter. Cowen Inc. now owns 208,420 shares of the basic materials company’s stock worth $1,845,000 after acquiring an additional 112,750 shares during the period. Cowen Group Inc. increased its stake in OCI Partners by 93.7% during the 1st quarter. Cowen Group Inc. now owns 95,670 shares of the basic materials company’s stock worth $957,000 after acquiring an additional 46,275 shares during the period. JPMorgan Chase & Co. bought a new position in OCI Partners during the 1st quarter worth $440,000. Finally, Quinn Opportunity Partners LLC increased its stake in OCI Partners by 32.1% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock worth $495,000 after acquiring an additional 13,600 shares during the period. 14.98% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on OCIP shares. BidaskClub raised OCI Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Citigroup Inc. set a $7.00 price target on OCI Partners and gave the stock a “sell” rating in a research report on Monday, August 14th. Finally, ValuEngine raised OCI Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th.
OCI Partners Company Profile
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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