Swiss National Bank lowered its stake in shares of Omnova Solutions Inc. (NYSE:OMN) by 5.0% during the second quarter, Holdings Channel reports. The firm owned 79,200 shares of the company’s stock after selling 4,200 shares during the period. Swiss National Bank owned about 0.18% of Omnova Solutions worth $574,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Omnova Solutions by 3.4% in the first quarter. Royal Bank of Canada now owns 4,144,559 shares of the company’s stock valued at $23,043,000 after buying an additional 137,590 shares during the period. Wellington Management Group LLP increased its stake in Omnova Solutions by 5.8% in the first quarter. Wellington Management Group LLP now owns 3,465,825 shares of the company’s stock valued at $19,270,000 after buying an additional 191,211 shares during the period. JPMorgan Chase & Co. increased its stake 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 during the period. Barington Capital Group L.P. increased its stake in Omnova Solutions by 4.6% in the first quarter. Barington Capital Group L.P. now owns 971,825 shares of the company’s stock valued at $5,403,000 after buying an additional 43,038 shares during the period. Finally, Geode Capital Management LLC increased its stake in Omnova Solutions by 3.2% in the first quarter. Geode Capital Management LLC now owns 279,690 shares of the company’s stock valued at $1,555,000 after buying an additional 8,676 shares during the period. 84.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Omnova Solutions Inc. (NYSE:OMN) traded down 0.85% during midday trading on Friday, hitting $8.17. 50,924 shares of the stock were exchanged. The stock’s market cap is $368.68 million. Omnova Solutions Inc. has a 52-week low of $4.37 and a 52-week high of $10.42. The firm’s 50 day moving average price is $9.20 and its 200-day moving average price is $7.97.
Omnova Solutions (NYSE:OMN) last released its quarterly earnings data on Thursday, September 22nd. The company reported $0.14 EPS for the quarter, missing the 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 last year, the firm earned $0.13 EPS. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. On average, equities research analysts expect that Omnova Solutions Inc. will post $0.50 earnings per share for the current fiscal year.
Several equities research analysts have commented on OMN shares. Zacks Investment Research downgraded shares of Omnova Solutions from a “buy” rating to a “hold” rating in a report on Saturday, September 24th. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a report on Thursday, June 30th. Finally, TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 22nd.
In other news, Director James A. Mitarotonda purchased 38,313 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was acquired at an average cost of $8.11 per share, for a total transaction of $310,718.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.76% of the stock is owned by corporate insiders.
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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