Orion Engineered Carbons (NYSE:OEC) Stock Rating Upgraded by Zacks Investment Research
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. “
Other analysts also recently issued research reports about the company. UBS Group dropped their price target on Orion Engineered Carbons from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. ValuEngine upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Loop Capital downgraded Orion Engineered Carbons from a “buy” rating to a “hold” rating and lowered their target price for the stock from $29.00 to $17.00 in a research note on Monday, August 5th. Finally, TheStreet downgraded Orion Engineered Carbons from a “b-” rating to a “c+” rating in a research note on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.60.
Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $399.02 million for the quarter, compared to analysts’ expectations of $391.68 million. Orion Engineered Carbons had a net margin of 5.64% and a return on equity of 71.44%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, analysts predict that Orion Engineered Carbons will post 1.82 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Orion Engineered Carbons in the second quarter worth about $28,000. Quantamental Technologies LLC boosted its stake in shares of Orion Engineered Carbons by 130.9% in the second quarter. Quantamental Technologies LLC now owns 5,079 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 2,879 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Orion Engineered Carbons by 255.7% in the second quarter. Bank of Montreal Can now owns 6,918 shares of the specialty chemicals company’s stock worth $148,000 after buying an additional 4,973 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Orion Engineered Carbons in the second quarter worth about $184,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Orion Engineered Carbons in the second quarter worth about $203,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.
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 through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.
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