Omnova Solutions Inc. (OMN) Sees Unusually-High Trading Volume
Shares of Omnova Solutions Inc. (NYSE:OMN) saw an uptick in trading volume on Monday . 356,707 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 457,844 shares.The stock last traded at $9.97 and had previously closed at $9.85.
Several equities research analysts have recently weighed in on OMN shares. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a research note on Thursday, June 30th. Zacks Investment Research raised Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Friday, July 1st.
The firm’s 50 day moving average is $7.44 and its 200 day moving average is $6.27. The company’s market capitalization is $445.20 million.
Omnova Solutions (NYSE:OMN) last released its earnings results 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 company earned $202 million during the quarter, compared to the consensus estimate of $205.40 million. The company’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. Equities analysts expect that Omnova Solutions Inc. will post $0.57 EPS for the current year.
In other news, SVP Douglas E. Wenger sold 8,671 shares of the business’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $9.73, for a total value of $84,368.83. Following the completion of the sale, the senior vice president now owns 168,408 shares of the company’s stock, valued at approximately $1,638,609.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Several large investors recently added to or reduced their stakes in OMN. GSA Capital Partners LLP raised its stake in 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 period. Russell Frank Co raised its stake in 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 period. LSV Asset Management raised its stake in 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 period. Finally, Dimensional Fund Advisors LP raised its stake in 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 period.
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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