Omnova Solutions Inc. (OMN) Trading Down 2.2%
Omnova Solutions Inc. (NYSE:OMN) traded down 2.2% during mid-day trading on Tuesday . The stock traded as low as $9.68 and last traded at $9.71, with a volume of 155,444 shares changing hands. The stock had previously closed at $9.93.
OMN has been the subject of a number of research analyst reports. Jefferies Group reissued 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 $8.00 target price for the company in a research report on Friday, July 1st.
The firm has a 50-day moving average price of $9.56 and a 200-day moving average price of $7.65. The stock’s market capitalization is $439.35 million.
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Omnova Solutions (NYSE:OMN) last posted its earnings results on Wednesday, June 29th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The company had revenue of $202 million for the quarter, compared to analyst estimates of $205.40 million. Omnova Solutions had a negative net margin of 1.57% and a positive return on equity of 18.11%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. On average, equities research analysts expect that Omnova Solutions Inc. will post $0.57 earnings per share for the current year.
In other Omnova Solutions news, SVP Douglas E. Wenger sold 8,671 shares of the stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $9.73, for a total value of $84,368.83. Following the sale, the senior vice president now directly owns 168,408 shares in the company, valued at $1,638,609.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.76% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Paloma Partners Management Co bought a new stake in shares of Omnova Solutions during the second quarter valued at about $100,000. Panagora Asset Management Inc. bought a new stake in shares of Omnova Solutions during the second quarter valued at about $109,000. Cubist Systematic Strategies LLC bought a new stake in shares of Omnova Solutions during the second quarter valued at about $117,000. Acadian Asset Management LLC increased its stake in shares of Omnova Solutions by 51.6% in the second quarter. Acadian Asset Management LLC now owns 18,472 shares of the company’s stock valued at $134,000 after buying an additional 6,290 shares in the last quarter. Finally, KCG Holdings Inc. bought a new stake in shares of Omnova Solutions during the second quarter valued at about $139,000. Institutional investors own 85.19% of the company’s stock.
About Omnova Solutions
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. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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