Spark Investment Management LLC reduced its position in shares of OMNOVA Solutions Inc. (NYSE:OMN) by 24.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,100 shares of the specialty chemicals company’s stock after selling 74,500 shares during the period. Spark Investment Management LLC owned 0.52% of OMNOVA Solutions worth $2,262,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in OMN. Envestnet Asset Management Inc. increased its stake in shares of OMNOVA Solutions by 4.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 472 shares in the last quarter. American International Group Inc. increased its stake in shares of OMNOVA Solutions by 7.1% in the first quarter. American International Group Inc. now owns 26,169 shares of the specialty chemicals company’s stock worth $259,000 after buying an additional 1,738 shares in the last quarter. Bank of America Corp DE increased its stake in shares of OMNOVA Solutions by 1.7% in the first quarter. Bank of America Corp DE now owns 123,988 shares of the specialty chemicals company’s stock worth $1,227,000 after buying an additional 2,073 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of OMNOVA Solutions by 24.1% in the first quarter. Acrospire Investment Management LLC now owns 13,344 shares of the specialty chemicals company’s stock worth $132,000 after buying an additional 2,590 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of OMNOVA Solutions by 8.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 32,133 shares of the specialty chemicals company’s stock worth $318,000 after buying an additional 2,611 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Shares of OMNOVA Solutions Inc. (NYSE:OMN) opened at 9.25 on Monday. The company has a 50 day moving average of $9.46 and a 200-day moving average of $9.19. OMNOVA Solutions Inc. has a 12 month low of $7.05 and a 12 month high of $10.42. The firm’s market capitalization is $415.43 million.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data on Wednesday, June 28th. The specialty chemicals company reported $0.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.16. The company had revenue of $221.30 million for the quarter, compared to analyst estimates of $204.40 million. OMNOVA Solutions had a positive return on equity of 19.65% and a negative net margin of 1.19%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 earnings per share. Analysts predict that OMNOVA Solutions Inc. will post $0.59 EPS for the current year.

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A number of brokerages recently weighed in on OMN. BidaskClub downgraded shares of OMNOVA Solutions from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $12.00 price target on shares of OMNOVA Solutions in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of OMNOVA Solutions from a “sell” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, April 18th. Finally, Sidoti began coverage on shares of OMNOVA Solutions in a research report on Tuesday, June 13th. They issued a “buy” rating and a $12.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $11.67.

About OMNOVA Solutions

OMNOVA Solutions Inc is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company’s segments include Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene, styrene butadiene acrylonitrile, styrene butadiene vinyl pyridine, nitrile butadiene, polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.

Institutional Ownership by Quarter for OMNOVA Solutions (NYSE:OMN)

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