Zacks Investment Research cut shares of Orion Engineered Carbons S.A (NYSE:OEC) from a hold rating to a sell rating in a report released on Thursday morning.
According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “
OEC has been the subject of a number of other research reports. UBS AG lifted their price objective on shares of Orion Engineered Carbons S.A from $21.00 to $23.00 and gave the company a neutral rating in a report on Friday, November 3rd. J P Morgan Chase & Co upgraded shares of Orion Engineered Carbons S.A from a neutral rating to an overweight rating and set a $29.00 price objective for the company in a report on Monday, November 6th. BidaskClub cut shares of Orion Engineered Carbons S.A from a buy rating to a hold rating in a report on Tuesday, August 1st. KeyCorp lifted their price objective on shares of Orion Engineered Carbons S.A from $24.00 to $25.00 and gave the company a buy rating in a report on Monday, October 16th. Finally, TheStreet upgraded shares of Orion Engineered Carbons S.A from a c rating to a b- rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $24.71.
Shares of Orion Engineered Carbons S.A (NYSE OEC) traded up $0.10 during mid-day trading on Thursday, hitting $23.35. 414,800 shares of the company were exchanged, compared to its average volume of 423,444. The company has a quick ratio of 1.33, a current ratio of 2.08 and a debt-to-equity ratio of 8.95. The firm has a market capitalization of $1,385.12, a PE ratio of 14.59 and a beta of 0.53. Orion Engineered Carbons S.A has a 52-week low of $17.15 and a 52-week high of $25.45.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantum Capital Management acquired a new position in Orion Engineered Carbons S.A during the 3rd quarter worth approximately $201,000. Parametric Portfolio Associates LLC acquired a new position in Orion Engineered Carbons S.A during the 1st quarter worth approximately $219,000. Northern Trust Corp grew its holdings in Orion Engineered Carbons S.A by 15.7% during the 2nd quarter. Northern Trust Corp now owns 11,721 shares of the specialty chemicals company’s stock worth $234,000 after acquiring an additional 1,594 shares in the last quarter. Nationwide Fund Advisors acquired a new position in Orion Engineered Carbons S.A during the 3rd quarter worth approximately $250,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Orion Engineered Carbons S.A during the 3rd quarter worth approximately $276,000. Institutional investors own 37.93% of the company’s stock.
Orion Engineered Carbons S.A Company Profile
Orion Engineered Carbons SA is a producer of carbon black. The Company operates through two segments: Specialty Carbon Black and Rubber Carbon Black. The Specialty Carbon Black segment is engaged in the production of specialty carbon black. The Rubber Carbon Black segment is involved in the production of rubber carbon black.
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