According to Zacks, “Omnova Solutions Inc. develops, manufactures and markets emulsion polymers, specialty chemicals and decorative and building products for a variety of industrial, commercial and consumer markets. The Performance Chemicals unit’s broad range of emulsion polymers and specialty chemicals are used as coatings, binders, adhesives, and additives for paper, carpet, textile and various other industries. “
Several other analysts have also issued reports on the stock. Jefferies Group reiterated a buy rating on shares of Omnova Solutions in a research report on Wednesday, July 6th. TheStreet upgraded shares of Omnova Solutions from a sell rating to a hold rating in a research report on Friday, July 22nd.
Omnova Solutions (NYSE:OMN) opened at 8.19 on Friday. The company’s market capitalization is $368.67 million. Omnova Solutions has a 52 week low of $4.37 and a 52 week high of $10.42. The firm has a 50-day moving average of $9.58 and a 200-day moving average of $7.72.
Omnova Solutions (NYSE:OMN) last announced its earnings results on Thursday, September 22nd. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Omnova Solutions had a negative net margin of 1.57% and a positive return on equity of 18.11%. The company earned $195.60 million during the quarter. During the same quarter last year, the business posted $0.13 EPS. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts anticipate that Omnova Solutions will post $0.55 EPS for the current fiscal year.
In other news, SVP Douglas E. Wenger sold 8,671 shares of the firm’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $9.73, for a total value of $84,368.83. Following the transaction, the senior vice president now directly owns 168,408 shares of the company’s stock, valued at $1,638,609.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.76% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of OMN. JPMorgan Chase & Co. increased its position in Omnova Solutions by 2,157.4% in the first quarter. JPMorgan Chase & Co. now owns 3,031,851 shares of the company’s stock valued at $16,857,000 after buying an additional 2,897,541 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Omnova Solutions by 24.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,772,219 shares of the company’s stock valued at $12,849,000 after buying an additional 345,602 shares in the last quarter. Piermont Capital Management Inc. acquired a new position in Omnova Solutions during the second quarter valued at $1,933,000. Emerald Acquisition Ltd. acquired a new position in Omnova Solutions during the second quarter valued at $1,672,000. Finally, Wellington Management Group LLP increased its position in shares of Omnova Solutions by 5.8% in the first quarter. Wellington Management Group LLP now owns 3,465,825 shares of the company’s stock worth $19,270,000 after buying an additional 191,211 shares during the period. 85.19% of the stock is currently owned by hedge funds and other 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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