Omnova Solutions Inc. (NYSE:OMN) Director James A. Mitarotonda bought 38,313 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Omnova Solutions Inc. (NYSE:OMN) opened at 8.36 on Tuesday. The firm’s market capitalization is $377.25 million. The firm’s 50-day moving average is $9.41 and its 200 day moving average is $7.85. Omnova Solutions Inc. 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 data on Thursday, September 22nd. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business earned $195.60 million during the quarter. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. Equities analysts anticipate that Omnova Solutions Inc. will post $0.50 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Barington Capital Group L.P. boosted its position in shares of Omnova Solutions by 4.6% in the first quarter. Barington Capital Group L.P. now owns 971,825 shares of the company’s stock worth $5,403,000 after buying an additional 43,038 shares during the last quarter. Wellington Management Group LLP boosted 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 last quarter. Royal Bank of Canada boosted its position in shares of Omnova Solutions by 3.4% in the first quarter. Royal Bank of Canada now owns 4,144,559 shares of the company’s stock worth $23,043,000 after buying an additional 137,590 shares during the last quarter. Alambic Investment Management L.P. boosted its position in shares of Omnova Solutions by 9.2% in the second quarter. Alambic Investment Management L.P. now owns 153,071 shares of the company’s stock worth $1,110,000 after buying an additional 12,880 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Omnova Solutions by 2,157.4% in the first quarter. JPMorgan Chase & Co. now owns 3,031,851 shares of the company’s stock worth $16,857,000 after buying an additional 2,897,541 shares during the last quarter. 84.98% of the stock is currently owned by hedge funds and other institutional investors.
OMN has been the topic of a number of research reports. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th. TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Zacks Investment Research downgraded shares of Omnova Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th.
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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