Omega Protein Corporation (NYSE:OME) Hits New 12-Month Low After Analyst Downgrade

Shares of Omega Protein Corporation (NYSE:OME) hit a new 52-week low during mid-day trading on Monday after Pivotal Research lowered their price target on the stock from $18.00 to $15.00. Pivotal Research currently has a hold rating on the stock. Omega Protein Corporation traded as low as $16.25 and last traded at $16.23, with a volume of 123,151 shares changing hands. The stock had previously closed at $17.25.

Other analysts have also recently issued reports about the stock. Sidoti restated a “neutral” rating on shares of Omega Protein Corporation in a research report on Friday, March 31st. ValuEngine cut shares of Omega Protein Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Omega Protein Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Six investment analysts have rated the stock with a hold rating, Omega Protein Corporation currently has an average rating of “Hold” and an average target price of $23.75.

A number of institutional investors have recently modified their holdings of the stock. Thomson Horstmann & Bryant Inc. purchased a new position in shares of Omega Protein Corporation during the first quarter valued at approximately $8,688,000. FMR LLC purchased a new position in shares of Omega Protein Corporation during the first quarter valued at approximately $3,064,000. Norges Bank purchased a new position in shares of Omega Protein Corporation during the fourth quarter valued at approximately $3,675,000. Heartland Advisors Inc. purchased a new position in shares of Omega Protein Corporation during the first quarter valued at approximately $2,903,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Omega Protein Corporation during the first quarter valued at approximately $2,848,000. Institutional investors own 87.25% of the company’s stock.

The stock has a market cap of $362.97 million, a P/E ratio of 11.902 and a beta of 0.24. The company’s 50-day moving average is $17.93 and its 200 day moving average is $21.41.

Omega Protein Corporation (NYSE:OME) last issued its earnings results on Monday, May 8th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Omega Protein Corporation had a net margin of 8.06% and a return on equity of 12.68%. The company had revenue of $73.57 million for the quarter, compared to the consensus estimate of $68.57 million. During the same period in the previous year, the firm earned $0.40 earnings per share. Omega Protein Corporation’s quarterly revenue was down 13.3% compared to the same quarter last year. Analysts predict that Omega Protein Corporation will post $1.29 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, May 25th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Tuesday, May 23rd. Omega Protein Corporation’s dividend payout ratio (DPR) is 14.81%.

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About Omega Protein Corporation

Omega Protein Corporation is a nutritional products company that develops, produces and delivers nutritious products. The Company operates through two segments: animal nutrition and human nutrition. The Company’s animal nutrition segment consists of two subsidiaries: Omega Protein, Inc (Omega Protein) and Omega Shipyard, Inc (Omega Shipyard).

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