Orion Engineered Carbons S.A (OEC) Stock Rating Upgraded by Goldman Sachs Group, Inc. (The)

Orion Engineered Carbons S.A (NYSE:OEC) was upgraded by research analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, July 14th, Marketbeat Ratings reports. The brokerage presently has a $21.00 price objective on the specialty chemicals company’s stock. Goldman Sachs Group, Inc. (The)’s target price suggests a potential upside of 3.70% from the company’s current price.

Other equities research analysts have also issued reports about the company. Berenberg Bank initiated coverage on Orion Engineered Carbons S.A in a research note on Tuesday, May 16th. They set a “buy” rating and a $26.00 price objective for the company. UBS AG restated a “neutral” rating and issued a $20.00 price target (down from $21.00) on shares of Orion Engineered Carbons S.A in a research report on Friday, May 5th. BidaskClub upgraded Orion Engineered Carbons S.A from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Zacks Investment Research upgraded Orion Engineered Carbons S.A from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Finally, ValuEngine lowered Orion Engineered Carbons S.A from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.60.

Shares of Orion Engineered Carbons S.A (NYSE OEC) traded down 3.11% during mid-day trading on Friday, hitting $20.25. The stock had a trading volume of 315,613 shares. The company has a market cap of $1.20 billion, a PE ratio of 22.30 and a beta of 0.51. The stock’s 50-day moving average is $20.87 and its 200 day moving average is $20.09. Orion Engineered Carbons S.A has a 12 month low of $16.95 and a 12 month high of $24.55.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OEC. Rovida Advisors Inc. boosted its stake in shares of Orion Engineered Carbons S.A by 4.1% in the second quarter. Rovida Advisors Inc. now owns 2,810,000 shares of the specialty chemicals company’s stock valued at $55,919,000 after buying an additional 110,000 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Orion Engineered Carbons S.A by 12.1% in the second quarter. Victory Capital Management Inc. now owns 2,450,947 shares of the specialty chemicals company’s stock valued at $48,896,000 after buying an additional 264,930 shares during the last quarter. Ameriprise Financial Inc. raised its position in Orion Engineered Carbons S.A by 13.3% in the first quarter. Ameriprise Financial Inc. now owns 1,322,237 shares of the specialty chemicals company’s stock valued at $27,105,000 after buying an additional 155,472 shares during the period. Renaissance Technologies LLC raised its position in Orion Engineered Carbons S.A by 19.0% in the first quarter. Renaissance Technologies LLC now owns 1,243,900 shares of the specialty chemicals company’s stock valued at $25,500,000 after buying an additional 198,400 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. raised its position in Orion Engineered Carbons S.A by 10.8% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 899,074 shares of the specialty chemicals company’s stock valued at $17,937,000 after buying an additional 87,728 shares during the period. Institutional investors own 39.11% of the company’s stock.

About Orion Engineered Carbons S.A

Orion Engineered Carbons SA 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 engaged in the production of specialty carbon black. The Rubber Carbon Black segment is involved in the production of rubber carbon black.

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