Omnova Solutions Inc. (OMN) Trading Down 1.7%
Omnova Solutions Inc. (NYSE:OMN)’s share price fell 1.7% during mid-day trading on Wednesday . The company traded as low as $9.28 and last traded at $9.83, with a volume of 447,500 shares traded. The stock had previously closed at $10.00.
A number of brokerages have recently issued reports on OMN. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a report on Wednesday, July 6th. Zacks Investment Research raised Omnova Solutions from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a report on Friday, April 8th.
The firm’s market capitalization is $442.50 million. The firm’s 50 day moving average price is $7.59 and its 200-day moving average price is $6.33.
Omnova Solutions (NYSE:OMN) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. During the same quarter in the previous year, the business posted $0.11 EPS. The business had revenue of $202 million for the quarter, compared to the consensus estimate of $205.40 million. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities analysts anticipate 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 the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $9.73, for a total transaction of $84,368.83. Following the completion of the sale, the senior vice president now owns 168,408 shares in the company, valued at $1,638,609.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Other large investors have recently modified their holdings of the company. LSV Asset Management boosted 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. GSA Capital Partners LLP boosted 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. Dimensional Fund Advisors LP boosted 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. Finally, Russell Frank Co boosted 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.
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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