Orion Engineered Carbons (OEC) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Orion Engineered Carbons (NYSE:OEC) from a sell rating to a hold rating in a research report report published on Tuesday 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. “

A number of other equities analysts also recently issued reports on OEC. KeyCorp reissued a buy rating and set a $24.00 target price on shares of Orion Engineered Carbons in a research note on Wednesday, October 4th. UBS Group increased their target price on Orion Engineered Carbons from $21.00 to $23.00 and gave the stock a neutral rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. raised Orion Engineered Carbons from a neutral rating to an overweight rating and set a $29.00 target price for the company in a research note on Monday, November 6th. Finally, Barclays increased their target price on Orion Engineered Carbons from $23.00 to $25.00 and gave the stock an equal weight rating in a research note on Tuesday, November 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Orion Engineered Carbons presently has a consensus rating of Buy and an average price target of $24.71.

Shares of Orion Engineered Carbons (NYSE OEC) traded down $0.25 during mid-day trading on Tuesday, hitting $27.00. The stock had a trading volume of 338,311 shares, compared to its average volume of 416,942. The stock has a market cap of $1,616.48, a P/E ratio of 17.03 and a beta of 0.54. Orion Engineered Carbons has a fifty-two week low of $17.15 and a fifty-two week high of $27.70. The company has a current ratio of 2.08, a quick ratio of 1.47 and a debt-to-equity ratio of 8.95.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Friday, December 22nd were paid a $0.169 dividend. This represents a $0.68 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, December 21st. Orion Engineered Carbons’s payout ratio is currently 68.38%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OEC. Bank of New York Mellon Corp increased its stake in Orion Engineered Carbons by 35.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,020 shares of the specialty chemicals company’s stock valued at $1,477,000 after purchasing an additional 19,381 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Orion Engineered Carbons by 11.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 316,297 shares of the specialty chemicals company’s stock valued at $6,310,000 after purchasing an additional 31,225 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Orion Engineered Carbons by 14.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 80,802 shares of the specialty chemicals company’s stock valued at $1,612,000 after purchasing an additional 10,364 shares in the last quarter. LSV Asset Management purchased a new position in Orion Engineered Carbons in the 2nd quarter valued at approximately $700,000. Finally, AJO LP increased its stake in Orion Engineered Carbons by 3.6% in the 2nd quarter. AJO LP now owns 268,444 shares of the specialty chemicals company’s stock valued at $5,355,000 after purchasing an additional 9,267 shares in the last quarter. 54.56% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Orion Engineered Carbons (OEC) Rating Increased to Hold at Zacks Investment Research” was first posted by Markets Daily and is the property of of Markets Daily. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://www.themarketsdaily.com/2018/01/13/orion-engineered-carbons-oec-rating-increased-to-hold-at-zacks-investment-research.html.

Orion Engineered Carbons 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.

Get a free copy of the Zacks research report on Orion Engineered Carbons (OEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Orion Engineered Carbons (NYSE:OEC)

Receive News & Ratings for Orion Engineered Carbons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion Engineered Carbons and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply