Orion Engineered Carbons SA (NYSE:OEC) announced a quarterly dividend on Monday, July 2nd, Wall Street Journal reports. Investors of record on Thursday, September 20th will be given a dividend of 0.20 per share by the specialty chemicals company on Friday, September 28th. This represents a $0.80 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, September 19th.
Orion Engineered Carbons has decreased its dividend payment by an average of 13.0% annually over the last three years. Orion Engineered Carbons has a payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Orion Engineered Carbons to earn $2.54 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 31.5%.
NYSE:OEC traded down $1.20 during mid-day trading on Friday, hitting $31.38. 263,758 shares of the stock were exchanged, compared to its average volume of 510,168. Orion Engineered Carbons has a fifty-two week low of $22.25 and a fifty-two week high of $36.55. The company has a current ratio of 2.01, a quick ratio of 1.40 and a debt-to-equity ratio of 5.08. The stock has a market cap of $1.91 billion, a P/E ratio of 19.25 and a beta of 0.84.
Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.17. Orion Engineered Carbons had a return on equity of 132.30% and a net margin of 7.95%. The firm had revenue of $391.60 million for the quarter, compared to analyst estimates of $342.90 million. During the same quarter last year, the company earned $0.37 EPS. The company’s revenue was up 30.8% on a year-over-year basis. As a group, sell-side analysts forecast that Orion Engineered Carbons will post 2.18 EPS for the current year.
OEC has been the topic of a number of recent research reports. Loop Capital initiated coverage on Orion Engineered Carbons in a research note on Wednesday. They set a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research upgraded Orion Engineered Carbons from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Friday, July 13th. Northcoast Research restated a “buy” rating and set a $40.00 price objective on shares of Orion Engineered Carbons in a research note on Tuesday, August 7th. Finally, ValuEngine lowered Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $33.14.
A hedge fund recently raised its stake in Orion Engineered Carbons stock. Bank of New York Mellon Corp increased its position in shares of Orion Engineered Carbons SA (NYSE:OEC) by 7.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 117,487 shares of the specialty chemicals company’s stock after acquiring an additional 8,446 shares during the period. Bank of New York Mellon Corp owned about 0.20% of Orion Engineered Carbons worth $3,624,000 at the end of the most recent reporting period. 91.21% of the stock is currently owned by institutional investors and hedge funds.
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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