Omnova Solutions Inc. (NYSE:OMN) – Stock analysts at KeyCorp dropped their FY2016 earnings estimates for shares of Omnova Solutions in a note issued to investors on Wednesday. KeyCorp analyst M. Sison now anticipates that the brokerage will post earnings of $0.50 per share for the year, down from their prior forecast of $0.60. KeyCorp also issued estimates for Omnova Solutions’ Q4 2016 earnings at $0.14 EPS and FY2017 earnings at $0.60 EPS.
Omnova Solutions (NYSE:OMN) last posted its quarterly earnings results on Thursday, September 22nd. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Omnova Solutions had a positive return on equity of 18.39% and a negative net margin of 1.05%. The business earned $195.60 million during the quarter. During the same period in the prior year, the company earned $0.13 EPS. Omnova Solutions’s revenue was down 7.3% on a year-over-year basis.
Several other research analysts have also recently weighed in on OMN. Zacks Investment Research cut Omnova Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Jefferies Group reiterated a “buy” rating on shares of Omnova Solutions in a report on Thursday, June 30th. Finally, TheStreet upgraded Omnova Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 22nd.
Omnova Solutions (NYSE:OMN) opened at 8.44 on Friday. Omnova Solutions has a 1-year low of $4.37 and a 1-year high of $10.42. The stock has a 50 day moving average price of $9.44 and a 200 day moving average price of $7.80. The stock’s market cap is $380.86 million.
In other news, Director James A. Mitarotonda bought 38,313 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were bought at an average price of $8.11 per share, with a total value of $310,718.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas E. Wenger sold 8,671 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 168,408 shares in the company, valued at approximately $1,638,609.84. The disclosure for this sale can be found here. 6.76% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Paloma Partners Management Co purchased a new stake in shares of Omnova Solutions during the second quarter worth about $100,000. Panagora Asset Management Inc. purchased a new stake in shares of Omnova Solutions during the second quarter worth about $109,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Omnova Solutions during the second quarter worth about $117,000. Acadian Asset Management LLC raised 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 worth $134,000 after buying an additional 6,290 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new stake in shares of Omnova Solutions during the second quarter worth about $139,000. 85.19% of the stock is currently owned by institutional investors.
Omnova Solutions Company Profile
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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