OMNOVA Solutions Inc. (OMN) Trading 2.6% Higher
OMNOVA Solutions Inc. (NYSE:OMN) shares traded up 2.6% during trading on Tuesday . The stock traded as high as $9.29 and last traded at $9.13, with a volume of 215,991 shares changing hands. The stock had previously closed at $8.90.
OMN has been the subject of several recent analyst reports. Zacks Investment Research downgraded OMNOVA Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. TheStreet upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Jefferies Group restated a “buy” rating on shares of OMNOVA Solutions in a research note on Wednesday, July 6th.
The firm’s 50-day moving average is $8.16 and its 200 day moving average is $6.57. The firm’s market cap is $406.04 million.
OMNOVA Solutions (NYSE:OMN) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. The business earned $202 million during the quarter, compared to analyst estimates of $205.40 million. During the same quarter last year, the firm earned $0.11 EPS. OMNOVA Solutions’s revenue for the quarter was down 8.3% compared to the same quarter last year. Equities research analysts predict that OMNOVA Solutions Inc. will post $0.57 EPS for the current fiscal year.
In other OMNOVA Solutions news, SVP Douglas E. Wenger sold 8,671 shares of OMNOVA Solutions stock in a transaction dated Thursday, July 14th. The shares were 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 in the company, valued at approximately $1,638,609.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Other large investors have bought and sold shares of the company. 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 last quarter. Russell Frank Co increased its position 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 period. Finally, Dimensional Fund Advisors LP increased its position 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 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. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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