Orion Engineered Carbons (NYSE:OEC) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Orion Engineered Carbons (NYSE:OEC – Get Rating) posted its earnings results on Thursday. The specialty chemicals company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.07), Briefing.com reports. Orion Engineered Carbons had a return on equity of 33.42% and a net margin of 8.60%. The business had revenue of $541.20 million for the quarter, compared to the consensus estimate of $496.76 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The company’s revenue was up 35.0% on a year-over-year basis. Orion Engineered Carbons updated its FY22 guidance to $2.00-$2.35 EPS.

Orion Engineered Carbons Trading Down 6.4 %

Shares of NYSE:OEC traded down $1.10 on Friday, hitting $16.04. The company had a trading volume of 763,326 shares, compared to its average volume of 555,822. Orion Engineered Carbons has a 1 year low of $13.84 and a 1 year high of $20.99. The firm has a market capitalization of $974.41 million, a price-to-earnings ratio of 6.80 and a beta of 1.65. The firm’s 50-day simple moving average is $16.72 and its two-hundred day simple moving average is $16.71. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 1.66.

Orion Engineered Carbons Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Wednesday, September 21st will be issued a $0.021 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Tuesday, September 20th. Orion Engineered Carbons’s dividend payout ratio (DPR) is presently 3.39%.

Insider Activity at Orion Engineered Carbons

In other news, CFO Jeffrey Glajch bought 5,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was acquired at an average cost of $17.03 per share, with a total value of $85,150.00. Following the completion of the acquisition, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $255,450. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Orion Engineered Carbons

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd purchased a new stake in Orion Engineered Carbons during the first quarter valued at $48,000. Point72 Hong Kong Ltd bought a new position in Orion Engineered Carbons during the first quarter valued at $117,000. Bridgefront Capital LLC bought a new position in shares of Orion Engineered Carbons in the first quarter worth about $184,000. Jane Street Group LLC bought a new position in shares of Orion Engineered Carbons in the first quarter worth about $237,000. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Orion Engineered Carbons by 20.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 15,292 shares of the specialty chemicals company’s stock worth $244,000 after purchasing an additional 2,615 shares during the last quarter. 82.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Orion Engineered Carbons from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th.

Orion Engineered Carbons Company Profile

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Orion Engineered Carbons SA, together with its subsidiaries, manufactures and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for polymers, coatings, and battery electrodes.