Frontier Investment Mgmt Co. acquired a new stake in Orion Engineered Carbons (NYSE:OEC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 102,010 shares of the specialty chemicals company’s stock, valued at approximately $2,764,000. Frontier Investment Mgmt Co. owned about 0.17% of Orion Engineered Carbons as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in OEC. Macquarie Group Ltd. bought a new stake in Orion Engineered Carbons in the fourth quarter valued at about $136,000. Quantitative Systematic Strategies LLC bought a new position in shares of Orion Engineered Carbons during the first quarter valued at approximately $231,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Orion Engineered Carbons during the first quarter valued at approximately $232,000. Dean Capital Investments Management LLC bought a new position in shares of Orion Engineered Carbons during the first quarter valued at approximately $313,000. Finally, Jane Street Group LLC bought a new position in shares of Orion Engineered Carbons during the fourth quarter valued at approximately $314,000. 86.02% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:OEC opened at $27.70 on Friday. Orion Engineered Carbons has a one year low of $27.65 and a one year high of $27.88. The firm has a market cap of $1.64 billion, a PE ratio of 16.80 and a beta of 0.76. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.83 and a quick ratio of 1.27.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 30th. Shareholders of record on Wednesday, June 20th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.89%. The ex-dividend date is Tuesday, June 19th. Orion Engineered Carbons’s dividend payout ratio (DPR) is currently 49.08%.
OEC has been the subject of several recent research reports. Jefferies Group started coverage on Orion Engineered Carbons in a report on Monday, January 22nd. They set a “buy” rating for the company. UBS reissued a “neutral” rating and issued a $29.00 price objective (up from $23.00) on shares of Orion Engineered Carbons in a report on Friday, February 23rd. KeyCorp reissued a “buy” rating and issued a $33.00 price objective (up from $29.00) on shares of Orion Engineered Carbons in a report on Monday, February 26th. Northcoast Research set a $35.00 price objective on Orion Engineered Carbons and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Zacks Investment Research upgraded Orion Engineered Carbons from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday, March 1st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.88.
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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