Omnova Solutions Inc. (NYSE:OMN) – Stock analysts at KeyCorp decreased their FY2016 earnings per share (EPS) estimates for shares of Omnova Solutions in a report released on Wednesday. KeyCorp analyst M. Sison now anticipates that the firm will post earnings of $0.50 per share for the year, down from their previous estimate of $0.60. KeyCorp also issued estimates for Omnova Solutions’ Q4 2016 earnings at $0.14 EPS and FY2017 earnings at $0.60 EPS.
OMN has been the topic of several other research reports. Zacks Investment Research lowered shares of Omnova Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th. TheStreet upgraded shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Jefferies Group restated a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th.
Shares of Omnova Solutions (NYSE:OMN) traded up 4.47% during mid-day trading on Friday, reaching $8.41. The company had a trading volume of 322,734 shares. The company’s 50-day moving average is $9.46 and its 200 day moving average is $7.78. The stock’s market capitalization is $379.51 million. Omnova Solutions has a 52-week low of $4.37 and a 52-week high of $10.42.
Omnova Solutions (NYSE:OMN) last announced its quarterly earnings results on Thursday, September 22nd. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.03. Omnova Solutions had a negative net margin of 1.05% and a positive return on equity of 18.39%. The company earned $195.60 million during the quarter. During the same period in the prior year, the company posted $0.13 EPS. The company’s quarterly revenue was down 7.3% compared to the same quarter last year.
In other news, Director James A. Mitarotonda acquired 38,313 shares of the stock in a transaction on Thursday, September 29th. The shares were purchased at an average cost of $8.11 per share, for a total transaction of $310,718.43. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas E. Wenger sold 8,671 shares of Omnova Solutions stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $9.73, for a total transaction of $84,368.83. Following the transaction, the senior vice president now owns 168,408 shares in the company, valued at $1,638,609.84. The disclosure for this sale can be found here. Company insiders own 6.76% of the company’s stock.
Large investors have recently modified their holdings of the stock. Paloma Partners Management Co bought a new stake in shares of Omnova Solutions during the second quarter worth about $100,000. Panagora Asset Management Inc. bought a new stake in shares of Omnova Solutions during the second quarter worth about $109,000. Cubist Systematic Strategies LLC bought 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 period. Finally, KCG Holdings Inc. bought a new stake in shares of Omnova Solutions during the second quarter worth about $139,000. 85.19% of the stock is 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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