BlackRock Fund Advisors has recently announced that it has increased stake in Orion Engineered Carbons S.A. (NYSE:OEC) by 3.62%. After grabbing 3.69 million shares, the institutional investor is now in possession of 0.13 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 6.06% having worth around $93.99 million. Moreover, William Blair Investment Manageme increased its share by 0.1 million to have a control over 3.35 million shares.
Orion Engineered Carbons S.A. (OEC) concluded trading on 03/23/23 at a closing price of $24.82, with 0.64 million shares of worth about $15.81 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 62.86% during that period and on Thursday the price saw a gain of about 1.72%. Currently the company’s common shares owned by public are about 60.91M shares, out of which, 59.46M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the OEC stock and their offered price forecasts bring an average price target of $32.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $40.00 and could fall to a lowest price of $26.00. The stock’s current price level is 22.92% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.54% for the stock. However, touching the estimated high of $40.00 would mean a gain of 37.95% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 26 times over the past 12 months. They bought 174,757 shares in 19 of the transactions. In 7 selling transactions, insiders dumped 10,380 shares.
T Rowe Price Small Cap Value Fund, iShares Russell 2000 ETF, and Invesco Small Cap Value Fund are the top 3 mutual funds which are holding stakes in Orion Engineered Carbons S.A. T Rowe Price Small Cap Value Fund is currently holding 2.3 million shares of worth totaling $58.63 million. The company recently came selling -0.42 million shares which brought its stake up to 3.78% of the company’s outstanding shares. iShares Russell 2000 ETF sold 4176.0 shares, after which its hold over company’s outstanding shares shrunk to 2.17%, leaving 1.32 million shares with the mutual fund that have a worth of about $33.7 million. Invesco Small Cap Value Fund, after buying 1.02 million shares, have now control over 1.67% of the stake in the company. It holds 0.0 shares of worth $25.96 million.
Orion Engineered Carbons S.A. (NYSE: OEC) started trading at $24.82, above $0.42 from concluding price of the previous day. However, the stock later moved at a day high price of 25.98, or with a gain of 1.72%. Stock saw a price change of -0.04% in past 5 days and over the past one month there was a price change of -0.20%. Year-to-date (YTD), OEC shares are showing a performance of 39.36% which increased to 55.71% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.87 but also hit the highest price of $26.91 during that period. The average intraday trading volume for Orion Engineered Carbons S.A. shares is 507.09K. The stock is currently trading -1.43% below its 20-day simple moving average (SMA20), while that difference is up 9.50% for SMA50 and it goes to 36.94% higher than SMA200.
BlackRock Fund Advisors acquired 3.69 million shares of Orion Engineered Carbons S.A. having value of about $93.99 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.13 million shares in the company valued at close to $3196418.88, or have control over 3.62% stake in the company. Orion Engineered Carbons S.A. (NYSE: OEC) currently have 60.91M outstanding shares and institutions hold larger chunk of about 96.73% of that. Holding of mutual funds in the company is about 59.46% while other institutional holders and individual stake holders have control over 7.60% and 31.01% of the stake respectively.
The stock has a current market capitalization of $1.53B and its 3Y-monthly beta is at 1.67. PE ratio of stock for trailing 12 months is 14.29, while it has posted earnings per share of $1.74 in the same period. Its PEG reads 0.74 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 1.99. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OEC, volatility over the week remained 3.35% while standing at 3.24% over the month.
Analysts are in expectations that Orion Engineered Carbons S.A. (OEC) stock would likely to be making an EPS of $0.17 in the current quarter, while forecast for next quarter EPS is $0.49 and it is $2.55 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.14 which is $0.22 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -21.70% while it is estimated to increase by 15.79% in next year. EPS is likely to grow at an annualized rate of 19.20% for next 5-years, compared to annual growth of 7.30% made by the stock over the past 5-years.
Analysts at 6 brokerage firms have issued recommendations for the Orion Engineered Carbons S.A. (OEC)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 6 Wall Street analysts, 6 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on March 13, 2023 offering an Outperform rating for the stock and assigned a target price of $31 to it. Coverage by JP Morgan stated Orion Engineered Carbons S.A. (OEC) stock as an Overweight in their note to investors on June 18, 2021, suggesting a price target of $23 for the stock. On October 27, 2020, Loop Capital Upgrade their recommendations, while on May 11, 2020, Barclays Downgrade their ratings for the stock with a price target of $7. Stock get a Hold rating from Loop Capital on August 05, 2019.
