It is currently trading at $23.60 just a bit higher than the 50 day moving average which is $22.43 and well above the 200 day moving average of $20.55. The 50 day moving average went up by +5.20% and the 200 day average moved up $3.05. 186K shares changed hands on Tuesday. Trading volume was up 84.86% over the stocks average daily volume.
Traders are feeling more bearish recently at least if you consider the change in short interest. The firm had a rise in short interest of 31.32% between September 15, 2017 and September 29, 2017. Short interest grew from 668,907 to 878,409 over that period. The short-interest ratio increased to 3.0 and the short interest percentage is 0.01% as of September 29.
The following firms have recently changed their position in OEC. Neuberger Berman Group LLC augmented its position by buying 31,225 shares an increase of 11.0% from 03/31/2017 to 06/30/2017. Neuberger Berman Group LLC claims 316,297 shares worth $6,310,000. The total value of its holdings increased 8.0%. As of the end of the quarter Ubs Group Ag had acquired 1,174 shares growing its stake by 126.8%. The value of the company’s investment in Orion Engineered Carbons S.A went from $19,000 to $42,000 increasing 121.1% for the reporting period.
As of quarter end Rovida Advisors Inc. had bought a total of 110,000 shares growing its holdings by 4.1%. The value of the total investment in Orion Engineered Carbons S.A increased from $55,350,000 to $55,919,000 a change of $569,000 quarter over quarter. Dalton Greiner Hartman Maher & Co added to its ownership by buying 13,820 shares an increase of 1.5%. Dalton Greiner Hartman Maher & Co controls 912,894 shares with a value of $20,494,000. The value of the position overall is up by 14.3%.
On July 14 the stock rating was upgraded from “Buy” to “Buy” by Goldman Sachs. On August 7 the company was downgraded to “Neutral” from “Overweight” with a current price target of $23.00 in a statement from JP Morgan.
Equity analyst JP Morgan downgraded the stock and raised the price target on August 7 changing the price objective from $20.00 to $23.00 and moving the rating from “Overweight” to “Neutral”. October 16 investment analysts at KeyBanc held the company rating at “Buy” and raised the price expectation from $22.00 to $25.00.
The company is up since yesterday’s close of 23.4. The company also recently announced a dividend for shareholders paid on Friday September 29th, 2017. The dividend payment was $0.198 per share for the quarter which is $0.79 annualized. This dividend represents a yield of $3.39. The ex-dividend date was set for Tuesday the 19th of September 2017.
The most current P/E ratio is 25.13 and the market cap of the company is 1.40B. As of the last earnings report the EPS was $0.94 and is projected to be $1.69 for the current year with 59,320,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.43 with next year’s EPS anticipated to be $1.86.
Orion Engineered Carbons S.A., launched on May 2, 2011, 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 involved in the production of specialty carbon black. The Rubber Carbon Black segment is involved in the production of rubber carbon black. As of December 31, 2016, it operated a diversified carbon black business with over 280 specialty carbon black grades and approximately 80 rubber carbon black grades. Carbon black is used as a pigment and as a performance additive in coatings, polymers, printing and special applications (specialty carbon black), and in the reinforcement of rubber in tires and mechanical rubber goods (rubber carbon black). As of December 31, 2016, it operated a global platform of 13 production facilities in Europe, North and South America, Asia and South Africa and three sales companies, as well as one jointly-owned production plant in Germany..