Ocean Bio-Chem, Inc. (OBCI) Announces Earnings Results
Ocean Bio-Chem, Inc. (NASDAQ:OBCI) posted its earnings results on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, Bloomberg Earnings reports. Ocean Bio-Chem had a return on equity of 15.10% and a net margin of 8.80%.
Shares of Ocean Bio-Chem (NASDAQ:OBCI) traded down $0.23 during trading on Wednesday, hitting $4.17. The company’s stock had a trading volume of 107,200 shares, compared to its average volume of 22,370. Ocean Bio-Chem has a one year low of $3.32 and a one year high of $5.71. The stock has a market cap of $40.60, a price-to-earnings ratio of 11.89 and a beta of 0.61.
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An institutional investor recently raised its position in Ocean Bio-Chem stock. Vanguard Group Inc. grew its holdings in shares of Ocean Bio-Chem, Inc. (NASDAQ:OBCI) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,605 shares of the company’s stock after purchasing an additional 1,033 shares during the quarter. Vanguard Group Inc. owned approximately 0.27% of Ocean Bio-Chem worth $101,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.53% of the company’s stock.
Separately, TheStreet lowered Ocean Bio-Chem from a “b-” rating to a “c+” rating in a research note on Friday, August 11th.
Ocean Bio-Chem Company Profile
Ocean Bio-Chem, Inc is engaged in the manufacturing, marketing and distribution of a range of appearance, performance and maintenance products. The Company offers its services under the Star brite and Star Tron brand names within the United States and Canada. In addition, the Company produces private label formulations of its products for various customers and provides custom blending and packaging services for these and other products.
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