Russell Investments Group Ltd. Buys 7,728 Shares of OMNOVA Solutions Inc. (OMN)
Russell Investments Group Ltd. grew its stake in OMNOVA Solutions Inc. (NYSE:OMN) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,282 shares of the specialty chemicals company’s stock after purchasing an additional 7,728 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of OMNOVA Solutions worth $948,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings 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 valued at $100,000 after purchasing an additional 472 shares during the period. Nine Chapters Capital Management LLC acquired a new position in shares of OMNOVA Solutions in the first quarter valued at approximately $142,000. Karp Capital Management Corp acquired a new position in shares of OMNOVA Solutions in the first quarter valued at approximately $158,000. American International Group Inc. increased its holdings 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 valued at $259,000 after purchasing an additional 1,738 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of OMNOVA Solutions in the first quarter valued at approximately $261,000. 88.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of OMNOVA Solutions Inc. (OMN) traded down 2.17% on Thursday, reaching $9.00. The company had a trading volume of 41,692 shares. The company’s market capitalization is $404.20 million. The stock has a 50 day moving average price of $9.02 and a 200-day moving average price of $9.14. OMNOVA Solutions Inc. has a 12 month low of $7.05 and a 12 month high of $10.27.
OMNOVA Solutions (NYSE:OMN) last announced its earnings results on Wednesday, June 28th. The specialty chemicals company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $221.30 million for the quarter, compared to the consensus estimate of $204.40 million. OMNOVA Solutions had a positive return on equity of 18.52% and a negative net margin of 1.19%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Analysts forecast that OMNOVA Solutions Inc. will post $0.59 EPS for the current fiscal year.
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OMN has been the topic of a number of recent research reports. Zacks Investment Research lowered OMNOVA Solutions from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. ValuEngine raised OMNOVA Solutions from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Sidoti initiated coverage on OMNOVA Solutions in a report on Tuesday, June 13th. They set a “buy” rating and a $12.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of OMNOVA Solutions in a report on Friday, June 16th. Finally, BidaskClub lowered OMNOVA Solutions from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.67.
OMNOVA Solutions Company Profile
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.
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