Rovida Advisors Lowers stake in Orion Engineered Carbons SA (OEC)

Orion Engineered Carbons SA (OEC) : Rovida Advisors reduced its stake in Orion Engineered Carbons SA by 0.65% during the most recent quarter end. The investment management company now holds a total of 2,500,000 shares of Orion Engineered Carbons SA which is valued at $45,025,000 after selling 16,416 shares in Orion Engineered Carbons SA , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Orion Engineered Carbons SA makes up approximately 26.89% of Rovida Advisors’s portfolio.

Other Hedge Funds, Including , Dynamic Technology Lab Private Ltd sold out all of its stake in OEC during the most recent quarter. The investment firm sold 12,654 shares of OEC which is valued $227,899.Neuberger Berman Group boosted its stake in OEC in the latest quarter, The investment management firm added 9,635 additional shares and now holds a total of 192,670 shares of Orion Engineered Carbons SA which is valued at $3,340,898.California Public Employees Retirement System boosted its stake in OEC in the latest quarter, The investment management firm added 7,100 additional shares and now holds a total of 51,300 shares of Orion Engineered Carbons SA which is valued at $831,573. Huntington National Bank sold out all of its stake in OEC during the most recent quarter. The investment firm sold 278 shares of OEC which is valued $4,518. Manchester Capital Management sold out all of its stake in OEC during the most recent quarter. The investment firm sold 4,414 shares of OEC which is valued $73,714.

Orion Engineered Carbons SA opened for trading at $18.05 and hit $18.38 on the upside on Friday, eventually ending the session at $18.19, with a gain of 0.72% or 0.13 points. The heightened volatility saw the trading volume jump to 29,512 shares. Company has a market cap of $1,079 M.

On the company’s financial health, Orion Engineered Carbons SA reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.30. The company had revenue of $247.89 million for the quarter, compared to analysts expectations of $262.52 million. The company’s revenue was down -12.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Orion Engineered Carbons SA. BB&T Capital Mkts Initiated Orion Engineered Carbons SA on Jun 10, 2016 to “Buy”, Price Target of the shares are set at $24.

Orion Engineered Carbons S.A. formerly Orion Engineered Carbons S.a r.l. is a producer of carbon black. The company operates a carbon black business with more than 280 carbon black grades and approximately 80 rubber carbon black grades. Carbon black is a form of carbon used to improve certain properties of materials into which it is added. The Company operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company operates a supply chain network comprising 13 wholly owned production plants and one jointly-owned production plant. The company offers specialty carbon black products which are used as a pigment and as a performance additive in coatings polymers printing and special applications. It also offers rubber carbon black products which are used in the reinforcement of rubber in tires and mechanical rubber goods.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *