Bank of New York Mellon Corp cut its position in shares of Omega Protein Corp. (NYSE:OME) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,431 shares of the company’s stock after selling 13,519 shares during the period. Bank of New York Mellon Corp owned about 0.51% of Omega Protein Corp. worth $2,247,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in OME. Capital Fund Management S.A. bought a new stake in Omega Protein Corp. during the second quarter worth about $458,000. American Century Companies Inc. boosted its position in Omega Protein Corp. by 1.9% in the second quarter. American Century Companies Inc. now owns 262,954 shares of the company’s stock worth $5,256,000 after buying an additional 4,923 shares during the last quarter. Strs Ohio boosted its position in Omega Protein Corp. by 6.8% in the second quarter. Strs Ohio now owns 35,900 shares of the company’s stock worth $717,000 after buying an additional 2,300 shares during the last quarter. Palo Capital Inc. acquired a new position in Omega Protein Corp. during the second quarter worth approximately $424,000. Finally, James Investment Research Inc. boosted its position in Omega Protein Corp. by 20.3% in the second quarter. James Investment Research Inc. now owns 548,066 shares of the company’s stock worth $10,956,000 after buying an additional 92,611 shares during the last quarter. 86.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Omega Protein Corp. (NYSE:OME) traded up 1.15% during midday trading on Wednesday, hitting $23.77. The stock had a trading volume of 100,529 shares. The stock’s 50-day moving average price is $24.62 and its 200 day moving average price is $20.89. The company has a market cap of $530.19 million, a price-to-earnings ratio of 19.50 and a beta of 0.62. Omega Protein Corp. has a 52 week low of $14.58 and a 52 week high of $26.00.
Omega Protein Corp. (NYSE:OME) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.14. The company had revenue of $112.65 million for the quarter, compared to analysts’ expectations of $99.12 million. Omega Protein Corp. had a net margin of 7.03% and a return on equity of 14.70%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, equities analysts forecast that Omega Protein Corp. will post $2.03 earnings per share for the current year.
A number of equities analysts recently commented on the company. Wunderlich cut Omega Protein Corp. from a “buy” rating to a “hold” rating and lifted their price target for the stock from $22.00 to $26.00 in a report on Friday, August 5th. DA Davidson lifted their price target on Omega Protein Corp. from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Pivotal Research lifted their price target on Omega Protein Corp. from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Omega Protein Corp. from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Omega Protein Corp. has an average rating of “Buy” and an average target price of $25.65.
In related news, insider Mark Edward Griffin sold 75,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $25.12, for a total value of $1,884,000.00. Following the sale, the insider now owns 149,891 shares in the company, valued at approximately $3,765,261.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary L. Allee sold 11,200 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $24.34, for a total transaction of $272,608.00. Following the completion of the sale, the director now owns 46,101 shares in the company, valued at approximately $1,122,098.34. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
About Omega Protein Corp.
Omega Protein Corporation is a nutritional products company that develops, produces and delivers nutritious products across the world. The Company operates through two segments: animal nutrition and human nutrition. The Company’s animal nutrition segment consists primarily of two subsidiaries: Omega Protein, Inc (Omega Protein) and Omega Shipyard, Inc (Omega Shipyard).
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