Omnova Solutions Inc. (OMN) Sees Unusually-High Trading Volume
Shares of Omnova Solutions Inc. (NYSE:OMN) saw strong trading volume on Tuesday . 534,660 shares changed hands during trading, an increase of 63% from the previous session’s volume of 327,129 shares.The stock last traded at $9.15 and had previously closed at $8.80.
A number of research analysts have commented on the stock. Jefferies Group reiterated a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th. Zacks Investment Research upgraded 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.
The company’s market capitalization is $417.29 million. The firm’s 50 day moving average price is $7.11 and its 200-day moving average price is $6.17.
Omnova Solutions (NYSE:OMN) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm earned $202 million during the quarter, compared to analyst estimates of $205.40 million. The company’s quarterly 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 EPS for the current year.
Several large investors have recently modified their holdings of OMN. Russell Frank Co boosted its stake 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 during the last quarter. LSV Asset Management boosted its stake in shares of 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 last quarter. Winslow Asset Management Inc. boosted its stake in shares of 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 last quarter. GSA Capital Partners LLP boosted its stake 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 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.