Omnova Solutions Inc. (OMN) Sees Unusually-High Trading Volume
Shares of Omnova Solutions Inc. (NYSE:OMN) saw strong 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 analysts have commented on the company. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th. Zacks Investment Research raised Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Friday, July 1st.
The company’s 50-day moving average is $7.51 and its 200 day moving average is $6.30. The firm’s market cap is $444.75 million.
Omnova Solutions (NYSE:OMN) last issued its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The firm earned $202 million during the quarter, compared to analyst estimates of $205.40 million. The business’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, analysts expect that Omnova Solutions Inc. will post $0.57 earnings per share for the current fiscal year.
In other news, SVP Douglas E. Wenger sold 8,671 shares of Omnova Solutions stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $9.73, for a total value of $84,368.83. Following the sale, the senior vice president now directly owns 168,408 shares of the company’s stock, valued at $1,638,609.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Other hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP raised 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 in the last quarter. Russell Frank Co raised 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 in the last quarter. LSV Asset Management raised 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised 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 in 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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