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Buyers Accumulate Shares of OM Group, Up 1.1%

Published on Thu, 02/14/2013 - 11:30
By Adrienne Chilton

OM Group (NYSE:OMG) is one of today's biggest movers, up 1.1% to $27.75. The S&P is trading fractionally higher to 1,521 and the Dow is trading fractionally higher to 13,989.

Potential upside of 17.1% exists for OM Group, based on a current level of $27.75 and analysts' average consensus price target of $32.50. The stock should discover initial support at its 50-day moving average (MA) of $23.82 and subsequent support at its 200-day MA of $20.10.

OM Group, Inc. produces and markets value-added metal-based specialty chemicals and powders. The Company supplies metal carboxylates, inorganic metal salts, and metal powders for diverse applications to a variety of industries. OM's products are used to manufacture coatings, custom catalysts, liquid detergents, lubricants, fuel additives, colorants, and rechargeable batteries.

In the past 52 weeks, shares of OM Group have traded between a low of $15.12 and a high of $31.26 and are now at $27.75, which is 84% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 1.85% higher over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com

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