Omnova Solutions Inc. (OMN) Stock Price Up 2.6%
Omnova Solutions Inc. (NYSE:OMN)’s share price rose 2.6% on Tuesday . The company traded as high as $9.29 and last traded at $9.13, with a volume of 215,991 shares. The stock had previously closed at $8.90.
OMN has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Friday, July 1st. Finally, TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd.
The firm’s market cap is $408.74 million. The company has a 50 day moving average of $8.29 and a 200 day moving average of $6.62.
Omnova Solutions (NYSE:OMN) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 previous year, the business posted $0.11 EPS. Omnova Solutions’s revenue was down 8.3% on a year-over-year basis. Equities analysts anticipate that Omnova Solutions Inc. will post $0.57 earnings per share for the current fiscal year.
In other news, SVP Douglas E. Wenger sold 8,671 shares of the firm’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $9.73, for a total transaction of $84,368.83. Following the completion of the transaction, the senior vice president now 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 Securities & Exchange Commission, which is available through this hyperlink.
A number of institutional investors have recently made changes to their positions in OMN. Russell Frank Co increased its position in shares of 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. GSA Capital Partners LLP increased its position in shares of 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. Finally, Dimensional Fund Advisors LP increased its position in shares of 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.
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. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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