Omnova Solutions Inc. (OMN) Sets New 52-Week High at $9.44
Omnova Solutions Inc. (NYSE:OMN) shares reached a new 52-week high on Wednesday . The company traded as high as $9.44 and last traded at $9.35, with a volume of 332,014 shares changing hands. The stock had previously closed at $9.27.
A number of research analysts have weighed in on OMN shares. Zacks Investment Research raised shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Friday, April 8th. Jefferies Group raised their price target on shares of Omnova Solutions from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, March 28th.
The stock’s market cap is $418.64 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $202 million for the quarter, compared to analysts’ expectations of $205.40 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities research analysts predict that Omnova Solutions Inc. will post $0.57 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently modified their holdings of 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 during the last quarter. LSV Asset Management increased its position 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. increased its position 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 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 during 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 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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