Perritt Capital Management Inc. Reduces Stake in OMNOVA Solutions Inc. (NYSE:OMN)

Perritt Capital Management Inc. lessened its holdings in OMNOVA Solutions Inc. (NYSE:OMN) by 18.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 349,221 shares of the specialty chemicals company’s stock after selling 77,878 shares during the quarter. OMNOVA Solutions comprises 0.8% of Perritt Capital Management Inc.’s portfolio, making the stock its 29th largest position. Perritt Capital Management Inc. owned approximately 0.78% of OMNOVA Solutions worth $2,176,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OMN. Quantamental Technologies LLC boosted its stake in shares of OMNOVA Solutions by 48.1% in the 2nd quarter. Quantamental Technologies LLC now owns 4,000 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 1,300 shares during the last quarter. New York State Teachers Retirement System bought a new position in OMNOVA Solutions in the first quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in OMNOVA Solutions by 276.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,552 shares of the specialty chemicals company’s stock worth $53,000 after purchasing an additional 6,283 shares during the last quarter. Bank of Montreal Can boosted its position in OMNOVA Solutions by 40.3% in the second quarter. Bank of Montreal Can now owns 9,770 shares of the specialty chemicals company’s stock worth $61,000 after purchasing an additional 2,808 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of OMNOVA Solutions by 1,304.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,114 shares of the specialty chemicals company’s stock valued at $64,000 after purchasing an additional 8,465 shares during the period. Institutional investors own 90.06% of the company’s stock.

NYSE OMN traded down $0.02 on Wednesday, reaching $10.07. 19,809 shares of the stock were exchanged, compared to its average volume of 292,542. The company has a current ratio of 1.89, a quick ratio of 1.26 and a debt-to-equity ratio of 5.36. OMNOVA Solutions Inc. has a one year low of $5.48 and a one year high of $10.70. The firm has a market capitalization of $452.04 million, a PE ratio of 15.98, a PEG ratio of 1.92 and a beta of 2.21. The company’s 50-day simple moving average is $10.02 and its two-hundred day simple moving average is $8.05.

OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, July 3rd. The specialty chemicals company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.10). OMNOVA Solutions had a return on equity of 33.50% and a net margin of 0.79%. The firm had revenue of $205.70 million during the quarter, compared to analysts’ expectations of $210.55 million. During the same period last year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts forecast that OMNOVA Solutions Inc. will post 0.52 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on OMN shares. ValuEngine cut shares of OMNOVA Solutions from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 3rd. Sidoti lowered OMNOVA Solutions from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, July 3rd. Deutsche Bank cut OMNOVA Solutions from a “buy” rating to a “hold” rating and set a $9.91 price target for the company. in a research report on Friday, July 5th. Finally, Zacks Investment Research raised OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. OMNOVA Solutions presently has an average rating of “Hold” and an average target price of $9.96.

OMNOVA Solutions Company Profile

OMNOVA Solutions Inc provides specialty solutions and performance materials for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. Its Specialty Solutions segment designs, develops, produces, and markets specialty products for use in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for oil and gas drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.

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

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