OMNOVA Solutions Inc. (OMN) Just Reaches 52-Week High?

April 18, 2018 - By Hazel Jackson

OMNOVA Solutions Inc. (NYSE:OMN) Logo

Investors sentiment decreased to 1.04 in Q4 2017. Its down 0.07, from 1.11 in 2017Q3. It worsened, as 5 investors sold OMNOVA Solutions Inc. shares while 45 reduced holdings. 17 funds opened positions while 35 raised stakes. 38.67 million shares or 0.16% more from 38.61 million shares in 2017Q3 were reported.
Public Employees Retirement System Of Ohio stated it has 0.01% in OMNOVA Solutions Inc. (NYSE:OMN). Secor Cap Advsr Ltd Partnership, a New York-based fund reported 109,331 shares. 107,210 are held by James Inv. Millennium Management Limited Liability Com, a New York-based fund reported 747,896 shares. Rhumbline Advisers stated it has 0% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN). Ameritas Investment Inc reported 0% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN). Campbell And Communications Invest Adviser Ltd has 0.21% invested in OMNOVA Solutions Inc. (NYSE:OMN). Moreover, National Bank Of Montreal Can has 0% invested in OMNOVA Solutions Inc. (NYSE:OMN). Zurcher Kantonalbank (Zurich Cantonalbank) invested in 2,269 shares. Panagora Asset has 237,527 shares. The New York-based Amer Group Inc has invested 0% in OMNOVA Solutions Inc. (NYSE:OMN). The Ontario – Canada-based Royal Fincl Bank Of Canada has invested 0.02% in OMNOVA Solutions Inc. (NYSE:OMN). Parametric Assocs Limited Co, a Washington-based fund reported 113,471 shares. Strs Ohio reported 0% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN). Blackrock Inc owns 3.19 million shares.

The stock of OMNOVA Solutions Inc. (NYSE:OMN) hit a new 52-week high and has $12.74 target or 8.00 % above today’s $11.80 share price. The 9 months bullish chart indicates low risk for the $528.66 million company. The 1-year high was reported on Apr, 18 by Barchart.com. If the $12.74 price target is reached, the company will be worth $42.29M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.72% or $0.2 during the last trading session, reaching $11.8. About 94,454 shares traded. OMNOVA Solutions Inc. (NYSE:OMN) has risen 16.76% since April 18, 2017 and is uptrending. It has outperformed by 5.21% the S&P500.

Analysts await OMNOVA Solutions Inc. (NYSE:OMN) to report earnings on June, 27. They expect $0.19 EPS, up 18.75 % or $0.03 from last year’s $0.16 per share. OMN’s profit will be $8.51 million for 15.53 P/E if the $0.19 EPS becomes a reality. After $0.09 actual EPS reported by OMNOVA Solutions Inc. for the previous quarter, Wall Street now forecasts 111.11 % EPS growth.

OMNOVA Solutions Inc. provides emulsion polymers, specialty chemicals, and engineered surfaces for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. The company has market cap of $528.66 million. The firm operates in two divisions, Specialty Solutions and Performance Materials. It currently has negative earnings. The Specialty Solutions segment designs, develops, produces, and markets specialty polymers which are used in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for gas and oil drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.

OMNOVA Solutions Inc. (NYSE:OMN) Institutional Positions Chart

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