Stevens Capital Management LP Purchases Shares of 15,141 OMNOVA Solutions Inc. (OMN)
Stevens Capital Management LP purchased a new position in shares of OMNOVA Solutions Inc. (NYSE:OMN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,141 shares of the specialty chemicals company’s stock, valued at approximately $166,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in OMN. Royal Bank of Canada grew its stake in OMNOVA Solutions by 5.3% during the 2nd quarter. Royal Bank of Canada now owns 4,817,031 shares of the specialty chemicals company’s stock valued at $46,966,000 after acquiring an additional 243,379 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in OMNOVA Solutions during the 2nd quarter valued at about $1,001,000. ClariVest Asset Management LLC grew its stake in OMNOVA Solutions by 20.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 492,290 shares of the specialty chemicals company’s stock valued at $4,799,000 after acquiring an additional 84,932 shares in the last quarter. Vanguard Group Inc. grew its stake in OMNOVA Solutions by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 1,739,412 shares of the specialty chemicals company’s stock valued at $17,221,000 after acquiring an additional 76,768 shares in the last quarter. Finally, Northern Trust Corp grew its stake in OMNOVA Solutions by 8.2% during the 2nd quarter. Northern Trust Corp now owns 705,492 shares of the specialty chemicals company’s stock valued at $6,878,000 after acquiring an additional 53,607 shares in the last quarter. 88.04% of the stock is owned by institutional investors.
Shares of OMNOVA Solutions Inc. (NYSE:OMN) opened at $10.90 on Thursday. OMNOVA Solutions Inc. has a one year low of $8.10 and a one year high of $11.60. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.71 and a current ratio of 2.38. The stock has a market cap of $503.01, a PE ratio of 18.67, a P/E/G ratio of 1.82 and a beta of 2.22.
OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings results on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.07. OMNOVA Solutions had a negative net margin of 0.78% and a positive return on equity of 22.71%. The business had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $203.12 million. During the same quarter in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. equities analysts expect that OMNOVA Solutions Inc. will post 0.62 earnings per share for the current year.
Several brokerages recently issued reports on OMN. BidaskClub cut shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Zacks Investment Research cut shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of OMNOVA Solutions in a research note on Friday, September 29th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of OMNOVA Solutions in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $11.67.
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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.
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