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.
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.
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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.
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