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

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

Orion Engineered Carbons Trading Down 6.4 %

OEC traded down $1.10 during trading on Friday, hitting $16.04. 763,326 shares of the stock were exchanged, compared to its average volume of 555,822. The firm has a 50 day simple moving average of $16.72 and a 200 day simple moving average of $16.71. The firm has a market cap of $974.41 million, a price-to-earnings ratio of 6.80 and a beta of 1.65. Orion Engineered Carbons has a 1 year low of $13.84 and a 1 year high of $20.99. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.51.

Orion Engineered Carbons Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st will be paid a $0.021 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Tuesday, September 20th. Orion Engineered Carbons’s payout ratio is 3.39%.

Insider Activity

In other Orion Engineered Carbons news, CFO Jeffrey Glajch acquired 5,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was purchased at an average price of $17.03 per share, with a total value of $85,150.00. Following the transaction, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at $255,450. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Orion Engineered Carbons

Several institutional investors and hedge funds have recently modified their holdings of the business. EVR Research LP acquired a new position in shares of Orion Engineered Carbons during the 1st quarter worth approximately $9,104,000. Dimensional Fund Advisors LP increased its position in shares of Orion Engineered Carbons by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 418,087 shares of the specialty chemicals company’s stock worth $6,677,000 after acquiring an additional 138,509 shares during the period. Invesco Ltd. increased its position in shares of Orion Engineered Carbons by 17.1% during the first quarter. Invesco Ltd. now owns 828,485 shares of the specialty chemicals company’s stock worth $13,230,000 after acquiring an additional 121,279 shares during the period. Divisar Capital Management LLC increased its position in shares of Orion Engineered Carbons by 32.6% during the first quarter. Divisar Capital Management LLC now owns 467,401 shares of the specialty chemicals company’s stock worth $7,464,000 after acquiring an additional 115,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Orion Engineered Carbons by 49.7% in the first quarter. Goldman Sachs Group Inc. now owns 328,775 shares of the specialty chemicals company’s stock valued at $5,251,000 after buying an additional 109,202 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Wall Street Analyst Weigh In

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

About Orion Engineered Carbons

(Get Rating)

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.

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Earnings History for Orion Engineered Carbons (NYSE:OEC)

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