Omnova Solutions Inc. (OMN) Trading 5.3% Higher
Shares of Omnova Solutions Inc. (NYSE:OMN) traded up 5.3% during mid-day trading on Monday . The stock traded as high as $9.13 and last traded at $8.90, with a volume of 581,761 shares trading hands. The stock had previously closed at $8.45.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded Omnova Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th.
The stock’s market cap is $396.13 million. The stock has a 50 day moving average price of $6.97 and a 200-day moving average price of $6.12.
Omnova Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, June 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The firm earned $202 million during the quarter, compared to analyst estimates of $205.40 million. During the same period in the prior year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, analysts expect that Omnova Solutions Inc. will post $0.57 earnings per share for the current year.
Several hedge funds recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of 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 last quarter. Russell Frank Co increased its stake in shares of 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 last quarter. GSA Capital Partners LLP increased its stake in shares of 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 last quarter. LSV Asset Management increased its stake in shares of 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 last quarter. Finally, Winslow Asset Management Inc. increased its stake in shares of 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 last quarter.
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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