Omnova Solutions Inc. (OMN) Trading Up 5.3%
Omnova Solutions Inc. (NYSE:OMN) shares were up 5.3% during mid-day trading on Monday . The stock traded as high as $9.13 and last traded at $8.90, with a volume of 581,761 shares. The stock had previously closed at $8.45.
Several research analysts have recently issued reports on OMN shares. Jefferies Group restated a “buy” rating on shares of Omnova Solutions in a research note on Thursday, June 30th. Zacks Investment Research upgraded Omnova Solutions from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Friday, April 8th.
The company’s market capitalization is $422.69 million. The firm’s 50-day moving average is $7.11 and its 200 day moving average is $6.17.
Omnova Solutions (NYSE:OMN) last released its earnings results on Wednesday, June 29th. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. During the same period in the previous year, the firm earned $0.11 earnings per share. The company had revenue of $202 million for the quarter, compared to analyst estimates of $205.40 million. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts predict that Omnova Solutions Inc. will post $0.57 EPS for the current year.
A number of hedge funds and institutional investors recently added to or reduced their stakes in OMN. Dimensional Fund Advisors LP boosted its position in Omnova Solutions by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,453,150 shares of the company’s stock valued at $8,908,000 after buying an additional 46,278 shares during the last quarter. Winslow Asset Management Inc. boosted 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 last quarter. LSV Asset Management boosted 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 last quarter. Russell Frank Co boosted 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 last quarter. Finally, GSA Capital Partners LLP boosted 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 last quarter.
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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