Waddell & Reed Financial Inc. lowered its position in shares of Orion Engineered Carbons SA (NYSE:OEC) by 29.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388,200 shares of the specialty chemicals company’s stock after selling 164,900 shares during the quarter. Waddell & Reed Financial Inc. owned 0.65% of Orion Engineered Carbons worth $11,976,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of OEC. Neuberger Berman Group LLC lifted its holdings in Orion Engineered Carbons by 2.5% during the first quarter. Neuberger Berman Group LLC now owns 295,697 shares of the specialty chemicals company’s stock valued at $8,013,000 after purchasing an additional 7,100 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Orion Engineered Carbons by 33.6% during the first quarter. Cetera Advisors LLC now owns 19,900 shares of the specialty chemicals company’s stock valued at $540,000 after buying an additional 5,000 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Orion Engineered Carbons during the first quarter valued at approximately $2,160,000. California Public Employees Retirement System raised its position in shares of Orion Engineered Carbons by 332.9% during the first quarter. California Public Employees Retirement System now owns 87,146 shares of the specialty chemicals company’s stock valued at $2,362,000 after buying an additional 67,013 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Orion Engineered Carbons during the first quarter valued at approximately $189,000. 91.21% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on OEC shares. Northcoast Research reiterated a “buy” rating and set a $40.00 price objective on shares of Orion Engineered Carbons in a research report on Tuesday, August 7th. ValuEngine cut shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Zacks Investment Research cut shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Loop Capital started coverage on shares of Orion Engineered Carbons in a research report on Wednesday, October 3rd. They set a “buy” rating and a $40.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.14.

OEC traded up $0.79 during trading hours on Friday, hitting $27.70. The company’s stock had a trading volume of 1,297,833 shares, compared to its average volume of 526,427. Orion Engineered Carbons SA has a 12 month low of $22.25 and a 12 month high of $36.55. The stock has a market capitalization of $1.91 billion, a PE ratio of 16.99 and a beta of 0.84. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.40 and a current ratio of 2.01.

Orion Engineered Carbons (NYSE:OEC) last announced its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.17. Orion Engineered Carbons had a net margin of 7.95% and a return on equity of 132.30%. The company had revenue of $391.60 million for the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Orion Engineered Carbons’s quarterly revenue was up 30.8% on a year-over-year basis. As a group, research analysts forecast that Orion Engineered Carbons SA will post 2.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, December 17th. Orion Engineered Carbons’s dividend payout ratio is presently 49.08%.

About Orion Engineered Carbons

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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Institutional Ownership by Quarter for Orion Engineered Carbons (NYSE:OEC)

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