Omnova Solutions Inc. (OMN) Hits New 12-Month High at $8.05
Omnova Solutions Inc. (NYSE:OMN)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.05 and last traded at $7.98, with a volume of 253,849 shares. The stock had previously closed at $7.70.
OMN has been the topic of a number of research reports. Jefferies Group restated a “buy” rating on shares of Omnova Solutions in a research report on Thursday, June 30th. Zacks Investment Research upgraded shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Friday, April 8th.
The firm’s 50-day moving average price is $6.87 and its 200-day moving average price is $6.09. The stock’s market cap is $362.37 million.
Omnova Solutions (NYSE:OMN) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. The company had revenue of $202 million for the quarter, compared to analyst estimates of $205.40 million. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. Equities research analysts anticipate that Omnova Solutions Inc. will post $0.53 earnings per share for the current year.
Other institutional investors recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in Omnova Solutions by 13.3% in the fourth quarter. GSA Capital Partners LLP now owns 199,132 shares of the company’s stock valued at $1,221,000 after buying an additional 23,426 shares during the period. Russell Frank Co raised its position in Omnova Solutions by 10.6% in the fourth quarter. Russell Frank Co now owns 250,132 shares of the company’s stock valued at $1,549,000 after buying an additional 23,992 shares during the period. LSV Asset Management raised its position in Omnova Solutions by 6.0% in the fourth quarter. LSV Asset Management now owns 356,800 shares of the company’s stock valued at $2,187,000 after buying an additional 20,115 shares during the period. Finally, Winslow Asset Management Inc. raised its position in Omnova Solutions by 0.9% in the fourth quarter. Winslow Asset Management Inc. now owns 1,294,608 shares of the company’s stock valued at $7,936,000 after buying an additional 11,310 shares during the period.
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemicals and bio-based chemistries.
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