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.