148,500 Shares in Omnova Solutions Inc. (OMN) Acquired by ClariVest Asset Management LLC
ClariVest Asset Management LLC acquired a new stake in shares of Omnova Solutions Inc. (NYSE:OMN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 148,500 shares of the company’s stock, valued at approximately $1,077,000.
Several other institutional investors have also recently added to or reduced their stakes in OMN. American Century Companies Inc. raised its position in Omnova Solutions by 86.2% in the second quarter. American Century Companies Inc. now owns 75,437 shares of the company’s stock valued at $547,000 after buying an additional 34,926 shares in the last quarter. Acadian Asset Management LLC raised its position in Omnova Solutions by 51.6% in the second quarter. Acadian Asset Management LLC now owns 18,472 shares of the company’s stock valued at $134,000 after buying an additional 6,290 shares in the last quarter. Nordea Investment Management AB purchased a new position in Omnova Solutions during the second quarter valued at $1,077,000. Royal Bank of Canada raised its position in Omnova Solutions by 3.4% in the first quarter. Royal Bank of Canada now owns 4,144,559 shares of the company’s stock valued at $23,043,000 after buying an additional 137,590 shares in the last quarter. Finally, Barington Capital Group L.P. raised its position in Omnova Solutions by 4.6% in the first quarter. Barington Capital Group L.P. now owns 971,825 shares of the company’s stock valued at $5,403,000 after buying an additional 43,038 shares in the last quarter. 84.98% of the stock is currently owned by institutional investors and hedge funds.
Omnova Solutions Inc. (NYSE:OMN) traded down 0.12% during trading on Friday, reaching $8.23. The company had a trading volume of 176,009 shares. The company’s market capitalization is $371.39 million. The stock has a 50 day moving average of $9.16 and a 200-day moving average of $7.99. Omnova Solutions Inc. has a 12 month low of $4.37 and a 12 month high of $10.42.
Omnova Solutions (NYSE:OMN) last posted its quarterly earnings results on Thursday, September 22nd. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by $0.03. The business had revenue of $195.60 million for the quarter. Omnova Solutions had a negative net margin of 1.05% and a positive return on equity of 18.39%. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Equities research analysts expect that Omnova Solutions Inc. will post $0.50 EPS for the current fiscal year.
Several research firms have recently weighed in on OMN. TheStreet raised Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Zacks Investment Research lowered Omnova Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 24th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th.
In other Omnova Solutions news, Director James A. Mitarotonda purchased 38,313 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The shares were purchased at an average cost of $8.11 per share, with a total value of $310,718.43. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.76% of the company’s stock.
About Omnova Solutions
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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