Orion Engineered Carbons (OEC) Declares $0.02 Dividend

Orion Engineered Carbons said on March 9, 2023 that its board of directors declared a regular quarterly dividend of $0.02 per share ($0.08 annualized). Previously, the company paid $0.02 per share.

Shares must be purchased before the ex-div date of March 20, 2023 to qualify for the dividend. Shareholders of record as of March 21, 2023 will receive the payment on April 5, 2023.

At the current share price of $24.53 / share, the stock's dividend yield is 0.34%. Looking back five years and taking a sample every week, the average dividend yield has been 3.20%, the lowest has been 0.31%, and the highest has been 11.89%. The standard deviation of yields is 2.67 (n=176).

The current dividend yield is 1.07 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.90%.

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Analyst Price Forecast Suggests 35.14% Upside

As of March 10, 2023, the average one-year price target for Orion Engineered Carbons is $33.15. The forecasts range from a low of $26.26 to a high of $42.00. The average price target represents an increase of 35.14% from its latest reported closing price of $24.53.

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The projected annual revenue for Orion Engineered Carbons is $2,197MM, an increase of 8.18%. The projected annual non-GAAP EPS is $2.55.

What is the Fund Sentiment?

There are 368 funds or institutions reporting positions in Orion Engineered Carbons. This is an increase of 14 owner(s) or 3.95% in the last quarter. Average portfolio weight of all funds dedicated to OEC is 0.37%, an increase of 19.30%. Total shares owned by institutions decreased in the last three months by 1.78% to 63,097K shares. The put/call ratio of OEC is 0.84, indicating a bullish outlook.

What are Large Shareholders Doing?

Pzena Investment Management holds 4,344K shares representing 7.24% ownership of the company. In it's prior filing, the firm reported owning 4,537K shares, representing a decrease of 4.46%. The firm increased its portfolio allocation in OEC by 13.77% over the last quarter.

T. Rowe Price Investment Management holds 3,645K shares representing 6.08% ownership of the company. In it's prior filing, the firm reported owning 4,246K shares, representing a decrease of 16.50%. The firm increased its portfolio allocation in OEC by 9.99% over the last quarter.

William Blair Investment Management holds 3,348K shares representing 5.58% ownership of the company. In it's prior filing, the firm reported owning 3,245K shares, representing an increase of 3.07%. The firm decreased its portfolio allocation in OEC by 99.87% over the last quarter.

Inherent Group holds 2,742K shares representing 4.57% ownership of the company. No change in the last quarter.

Hawk Ridge Capital Management holds 2,365K shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 2,674K shares, representing a decrease of 13.07%. The firm increased its portfolio allocation in OEC by 27.19% over the last quarter.

Orion Engineered Carbons Background Information
(This description is provided by the company.)

Orion Engineered Carbons is a global supplier of carbon black products including high-performance specialty gas blacks, acetylene blacks, furnace blacks, lamp blacks, thermal blacks, and other carbon blacks that tint, colorize and enhance the performance of polymers, plastics, paints and coatings, inks and toners, textile fibers, adhesives and sealants, batteries, tires, and mechanical rubber goods, such as automotive belts and hoses. The company has over 125 years of history providing customized solutions from a network of 14 global production sites and is dedicated to responsible business practices that emphasize reliability, innovation and sustainability.

This story originally appeared on Fintel.