Orion Engineered Carbons (NYSE:OEC – Get Rating) released its earnings results on Thursday. The specialty chemicals company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.07), Briefing.com reports. Orion Engineered Carbons had a return on equity of 33.42% and a net margin of 8.60%. The company had revenue of $541.20 million during the quarter, compared to analysts’ expectations of $496.76 million. During the same period last year, the firm posted $0.62 EPS. Orion Engineered Carbons’s quarterly revenue was up 35.0% compared to the same quarter last year. Orion Engineered Carbons updated its FY22 guidance to $2.00-$2.35 EPS.
Orion Engineered Carbons Price Performance
Orion Engineered Carbons stock traded down $1.10 during mid-day trading on Friday, reaching $16.04. 763,326 shares of the company’s stock traded hands, compared to its average volume of 555,822. The company has a market cap of $974.41 million, a price-to-earnings ratio of 6.80 and a beta of 1.65. The stock has a 50 day moving average of $16.72 and a two-hundred day moving average of $16.71. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 1.66. Orion Engineered Carbons has a 12-month low of $13.84 and a 12-month high of $20.99.
Orion Engineered Carbons Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st will be issued a $0.021 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Tuesday, September 20th. Orion Engineered Carbons’s dividend payout ratio (DPR) is presently 3.39%.
Wall Street Analysts Forecast Growth
Insider Activity at Orion Engineered Carbons
In other Orion Engineered Carbons news, CFO Jeffrey Glajch purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were bought at an average price of $17.03 per share, with a total value of $85,150.00. Following the completion of the purchase, the chief financial officer now directly owns 15,000 shares in the company, valued at $255,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.
Institutional Investors Weigh In On Orion Engineered Carbons
A number of hedge funds have recently bought and sold shares of OEC. EVR Research LP purchased a new stake in shares of Orion Engineered Carbons in the first quarter valued at $9,104,000. Dimensional Fund Advisors LP raised its stake in shares of Orion Engineered Carbons by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 418,087 shares of the specialty chemicals company’s stock valued at $6,677,000 after acquiring an additional 138,509 shares during the period. Invesco Ltd. raised its stake in shares of Orion Engineered Carbons by 17.1% in the first quarter. Invesco Ltd. now owns 828,485 shares of the specialty chemicals company’s stock valued at $13,230,000 after acquiring an additional 121,279 shares during the period. Divisar Capital Management LLC raised its stake in shares of Orion Engineered Carbons by 32.6% in the first quarter. Divisar Capital Management LLC now owns 467,401 shares of the specialty chemicals company’s stock valued at $7,464,000 after acquiring an additional 115,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Orion Engineered Carbons by 49.7% in the first quarter. Goldman Sachs Group Inc. now owns 328,775 shares of the specialty chemicals company’s stock valued at $5,251,000 after acquiring an additional 109,202 shares during the period. Hedge funds and other institutional investors own 82.69% of the company’s stock.
About Orion Engineered Carbons
Orion Engineered Carbons SA, together with its subsidiaries, manufactures 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 conductive carbon black grades for polymers, coatings, and battery electrodes.
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