Omnova Solutions Inc. (OMN) Hits New 52-Week High at $10.04
Omnova Solutions Inc. (NYSE:OMN) reached a new 52-week high on Tuesday . The company traded as high as $10.04 and last traded at $10.00, with a volume of 332,094 shares changing hands. The stock had previously closed at $9.89.
OMN has been the subject of a number of recent research reports. Zacks Investment Research lowered Omnova Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Jefferies Group boosted their target price on Omnova Solutions from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, March 28th.
The firm’s market capitalization is $450.15 million. The company’s 50-day moving average price is $7.51 and its 200-day moving average price is $6.30.
Omnova Solutions (NYSE:OMN) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. The business had revenue of $202 million for the quarter, compared to the consensus estimate of $205.40 million. During the same period in the prior year, the business earned $0.11 earnings per share. Omnova Solutions’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Omnova Solutions Inc. will post $0.57 earnings per share for the current fiscal year.
In other Omnova Solutions news, SVP Douglas E. Wenger sold 8,671 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $9.73, for a total transaction of $84,368.83. Following the sale, the senior vice president now directly owns 168,408 shares of the company’s stock, valued at $1,638,609.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Other large investors have bought and sold shares of the company. LSV Asset Management boosted its stake 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 in the last quarter. GSA Capital Partners LLP boosted its stake 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $8,908,000 after buying an additional 46,278 shares in the last quarter. Finally, Russell Frank Co boosted its stake 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 in 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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