Omnova Solutions Inc. (OMN) Shares Down 7.5%
Omnova Solutions Inc. (NYSE:OMN)’s share price traded down 7.5% on Monday . The stock traded as low as $8.48 and last traded at $8.76, with a volume of 500,011 shares trading hands. The stock had previously closed at $9.47.
Several equities analysts recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th. TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Zacks Investment Research raised shares of Omnova Solutions from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Friday, April 8th.
The stock’s market cap is $400.63 million. The company’s 50-day moving average price is $8.11 and its 200-day moving average price is $6.52.
Omnova Solutions (NYSE:OMN) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. During the same period last year, the company earned $0.11 earnings per share. The company earned $202 million during the quarter, compared to the consensus estimate of $205.40 million. The business’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Omnova Solutions Inc. will post $0.57 EPS for the current year.
In other news, SVP Douglas E. Wenger sold 8,671 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was 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 directly owns 168,408 shares of the company’s stock, valued at approximately $1,638,609.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Several hedge funds recently made changes to their positions in the stock. 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 during the period. GSA Capital Partners LLP raised its position 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 valued at $1,221,000 after buying an additional 23,426 shares in the last quarter. Finally, Russell Frank Co raised 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 valued at $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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