Omnova Solutions Inc. (OMN) Reaches New 12-Month High at $9.44
Omnova Solutions Inc. (NYSE:OMN)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $9.44 and last traded at $9.35, with a volume of 332,014 shares traded. The stock had previously closed at $9.27.
Several brokerages have recently commented on OMN. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Friday, April 8th.
The stock has a 50-day moving average price of $7.26 and a 200 day moving average price of $6.22. The firm’s market cap is $438.45 million.
Omnova Solutions (NYSE:OMN) last announced its earnings results on Wednesday, June 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $202 million for the quarter, compared to analyst estimates of $205.40 million. Omnova Solutions’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 earnings per share. Equities analysts expect that Omnova Solutions Inc. will post $0.57 EPS for the current fiscal year.
Other large investors have bought and sold shares of the company. GSA Capital Partners LLP increased 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 during the period. Russell Frank Co increased 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 during the period. LSV Asset Management increased 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 during the period. Winslow Asset Management Inc. increased its stake 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 worth $7,936,000 after buying an additional 11,310 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 during the period.
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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