First Trust Advisors LP Has $168,000 Stake in Omnova Solutions Inc. (OMN)
First Trust Advisors LP reduced its position in Omnova Solutions Inc. (NYSE:OMN) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 23,238 shares of the company’s stock after selling 1,950 shares during the period. First Trust Advisors LP owned 0.05% of Omnova Solutions worth $168,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of Omnova Solutions by 51.6% in the second quarter. Acadian Asset Management LLC now owns 18,472 shares of the company’s stock worth $134,000 after buying an additional 6,290 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Omnova Solutions by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 34,078 shares of the company’s stock worth $189,000 after buying an additional 180 shares during the last quarter. Menta Capital LLC boosted its position in shares of Omnova Solutions by 25.2% in the first quarter. Menta Capital LLC now owns 89,249 shares of the company’s stock worth $496,000 after buying an additional 17,936 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Omnova Solutions by 86.2% in the second quarter. American Century Companies Inc. now owns 75,437 shares of the company’s stock worth $547,000 after buying an additional 34,926 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Omnova Solutions by 534.6% in the first quarter. Goldman Sachs Group Inc. now owns 126,856 shares of the company’s stock worth $705,000 after buying an additional 106,867 shares during the last quarter. Institutional investors own 84.98% of the company’s stock.
Shares of Omnova Solutions Inc. (NYSE:OMN) traded up 1.24% during trading on Wednesday, hitting $8.15. 43,010 shares of the stock traded hands. The stock has a 50 day moving average of $9.06 and a 200 day moving average of $8.06. The firm’s market cap is $367.78 million. Omnova Solutions Inc. has a 52-week low of $4.37 and a 52-week high of $10.42.
Omnova Solutions (NYSE:OMN) last issued its quarterly earnings results on Thursday, September 22nd. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Omnova Solutions had a positive return on equity of 18.39% and a negative net margin of 1.05%. The firm had revenue of $195.60 million for the quarter. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. Analysts expect that Omnova Solutions Inc. will post $0.50 EPS for the current year.
Several equities analysts have issued reports on the stock. TheStreet upgraded shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Jefferies Group restated a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th. Finally, Zacks Investment Research upgraded shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Friday, July 1st.
In other news, Director James A. Mitarotonda purchased 38,313 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The stock was purchased at an average cost of $8.11 per share, for a total transaction of $310,718.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.76% of the company’s stock.
Omnova Solutions Company Profile
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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