Omnova Solutions Inc. (OMN) Reaches New 52-Week High at $8.05
Omnova Solutions Inc. (NYSE:OMN) shares reached a new 52-week high on Thursday . The company traded as high as $8.05 and last traded at $7.98, with a volume of 253,849 shares trading hands. The stock had previously closed at $7.70.
OMN has been the subject of a number of analyst reports. Jefferies Group raised their price target on Omnova Solutions from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, March 28th. Zacks Investment Research upgraded Omnova Solutions from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Friday, April 8th.
The company has a 50-day moving average of $6.97 and a 200 day moving average of $6.12. The firm’s market capitalization is $380.38 million.
Omnova Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, June 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business earned $202 million during the quarter, compared to analyst estimates of $205.40 million. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. Analysts anticipate that Omnova Solutions Inc. will post $0.57 earnings per share for the current fiscal year.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Russell Frank Co increased 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 worth $1,549,000 after buying an additional 23,992 shares during the period. LSV Asset Management increased 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 worth $2,187,000 after buying an additional 20,115 shares during the period. Winslow Asset Management Inc. increased 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 worth $7,936,000 after buying an additional 11,310 shares during the period. Finally, GSA Capital Partners LLP increased 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 worth $1,221,000 after buying an additional 23,426 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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