Price T Rowe Associates Inc. MD lifted its position in shares of Orion Engineered Carbons S.A. (NYSE:OEC) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,196,846 shares of the specialty chemicals company’s stock after purchasing an additional 596,349 shares during the quarter. Price T Rowe Associates Inc. MD owned 6.93% of Orion Engineered Carbons worth $82,762,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of OEC. RMR Wealth Builders bought a new stake in Orion Engineered Carbons in the 1st quarter valued at $35,000. SG Americas Securities LLC bought a new stake in Orion Engineered Carbons in the 1st quarter valued at $269,000. BNP Paribas Arbitrage SA lifted its position in Orion Engineered Carbons by 50.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,395 shares of the specialty chemicals company’s stock valued at $323,000 after acquiring an additional 5,467 shares in the last quarter. Citigroup Inc. lifted its position in Orion Engineered Carbons by 410.9% in the 4th quarter. Citigroup Inc. now owns 21,775 shares of the specialty chemicals company’s stock valued at $373,000 after acquiring an additional 17,513 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in Orion Engineered Carbons by 22.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 21,087 shares of the specialty chemicals company’s stock valued at $416,000 after acquiring an additional 3,817 shares in the last quarter. 90.26% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Orion Engineered Carbons from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, April 27th. JPMorgan Chase & Co. raised shares of Orion Engineered Carbons from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $17.00 to $23.00 in a research report on Friday, June 18th. Finally, Barclays boosted their price target on shares of Orion Engineered Carbons from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Monday, May 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.40.
Orion Engineered Carbons (NYSE:OEC) last announced its quarterly earnings results on Thursday, May 6th. The specialty chemicals company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06. Orion Engineered Carbons had a net margin of 2.04% and a return on equity of 38.83%. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $348.00 million. During the same quarter in the prior year, the business earned $0.44 EPS. Orion Engineered Carbons’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts anticipate that Orion Engineered Carbons S.A. will post 1.87 earnings per share for the current year.
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 in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and various conductive carbon black grades for polymers, coatings, and battery electrodes.
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