Bard Associates Inc. boosted its holdings in shares of OCI Partners LP (NYSE:OCIP) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,400 shares of the basic materials company’s stock after acquiring an additional 1,500 shares during the period. Bard Associates Inc. owned 0.17% of OCI Partners worth $1,278,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in OCI Partners by 13.9% during the 1st quarter. Renaissance Technologies LLC now owns 60,608 shares of the basic materials company’s stock valued at $606,000 after acquiring an additional 7,418 shares in the last quarter. Quinn Opportunity Partners LLC grew its stake in OCI Partners by 32.1% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 55,985 shares of the basic materials company’s stock valued at $495,000 after acquiring an additional 13,600 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in OCI Partners during the 1st quarter valued at about $440,000. Cowen Group Inc. grew its stake in OCI Partners by 93.7% during the 1st quarter. Cowen Group Inc. now owns 95,670 shares of the basic materials company’s stock valued at $957,000 after acquiring an additional 46,275 shares in the last quarter. Finally, Morgan Stanley grew its stake in OCI Partners by 4.3% during the 1st quarter. Morgan Stanley now owns 10,376,362 shares of the basic materials company’s stock valued at $103,764,000 after acquiring an additional 428,344 shares in the last quarter. 14.98% of the stock is owned by institutional investors.
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OCIP has been the subject of several research reports. BidaskClub cut shares of OCI Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. ValuEngine raised shares of OCI Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Finally, Citigroup Inc. set a $7.00 price target on shares of OCI Partners and gave the company a “sell” rating in a research note on Monday, August 14th.
OCI Partners LP (OCIP) traded up 0.2897% during mid-day trading on Monday, hitting $8.2739. 370 shares of the stock traded hands. OCI Partners LP has a 12-month low of $4.95 and a 12-month high of $10.35. The firm’s 50-day moving average is $8.51 and its 200-day moving average is $8.98. The company’s market cap is $719.80 million.
OCI Partners (NYSE:OCIP) last issued its quarterly earnings results on Monday, August 7th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.14. The firm had revenue of $73.97 million for the quarter. OCI Partners had a negative return on equity of 10.52% and a negative net margin of 5.60%. Equities research analysts expect that OCI Partners LP will post $0.46 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.82%. OCI Partners’s dividend payout ratio (DPR) is presently -252.63%.
OCI Partners Company Profile
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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