Omnova Solutions Inc. (OMN) Sees Large Volume Increase
Omnova Solutions Inc. (NYSE:OMN) saw an uptick in trading volume on Tuesday . 534,660 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 327,129 shares.The stock last traded at $9.15 and had previously closed at $8.80.
A number of brokerages recently commented on OMN. Jefferies Group reiterated a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th. Zacks Investment Research upgraded Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Friday, July 1st.
The stock’s market cap is $448.35 million. The company’s 50 day moving average price is $7.18 and its 200 day moving average price is $6.19.
Omnova Solutions (NYSE:OMN) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The company earned $202 million during the quarter, compared to analyst estimates of $205.40 million. Omnova Solutions’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Equities research analysts expect that Omnova Solutions Inc. will post $0.57 EPS for the current year.
Other large investors recently 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 in the last quarter. Russell Frank Co raised its stake in 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 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. Winslow Asset Management Inc. raised its stake in Omnova Solutions by 0.9% in the fourth quarter. Winslow Asset Management Inc. now owns 1,294,608 shares of the company’s stock worth $7,936,000 after buying an additional 11,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in 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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