Parametric Portfolio Associates LLC grew its holdings in OMNOVA Solutions Inc. (NYSE:OMN) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,411 shares of the specialty chemicals company’s stock after buying an additional 51 shares during the period. Parametric Portfolio Associates LLC owned 0.23% of OMNOVA Solutions worth $989,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Synovus Financial Corp lifted its position in shares of OMNOVA Solutions by 28.2% in the second quarter. Synovus Financial Corp now owns 145,178 shares of the specialty chemicals company’s stock valued at $1,416,000 after buying an additional 31,926 shares during the last quarter. American Century Companies Inc. lifted its position in shares of OMNOVA Solutions by 4.4% in the second quarter. American Century Companies Inc. now owns 291,137 shares of the specialty chemicals company’s stock valued at $2,839,000 after buying an additional 12,256 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of OMNOVA Solutions by 28.9% in the second quarter. Nationwide Fund Advisors now owns 149,785 shares of the specialty chemicals company’s stock valued at $1,460,000 after buying an additional 33,592 shares during the last quarter. Menta Capital LLC lifted its position in shares of OMNOVA Solutions by 9.7% in the second quarter. Menta Capital LLC now owns 298,311 shares of the specialty chemicals company’s stock valued at $2,909,000 after buying an additional 26,465 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of OMNOVA Solutions by 399.1% during the first quarter. UBS Group AG now owns 43,062 shares of the specialty chemicals company’s stock worth $426,000 after purchasing an additional 34,434 shares during the period. 87.41% of the stock is owned by institutional investors.
OMNOVA Solutions Inc. (OMN) opened at $10.60 on Friday. OMNOVA Solutions Inc. has a 52 week low of $8.10 and a 52 week high of $11.60. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.71 and a current ratio of 2.38. The company has a market capitalization of $476.06, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.72 and a beta of 2.22.
OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data on Thursday, September 28th. The specialty chemicals company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.07. OMNOVA Solutions had a positive return on equity of 22.71% and a negative net margin of 0.78%. The firm had revenue of $200.90 million for the quarter, compared to analyst estimates of $203.12 million. During the same quarter last year, the company earned $0.14 EPS. The company’s revenue was up 2.7% on a year-over-year basis. equities analysts forecast that OMNOVA Solutions Inc. will post 0.62 earnings per share for the current year.
A number of brokerages have recently weighed in on OMN. BidaskClub lowered OMNOVA Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. ValuEngine upgraded OMNOVA Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Zacks Investment Research lowered OMNOVA Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. KeyCorp reiterated a “hold” rating on shares of OMNOVA Solutions in a research note on Friday, September 29th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $12.00 target price on shares of OMNOVA Solutions in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. OMNOVA Solutions has an average rating of “Hold” and a consensus price target of $11.67.
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OMNOVA Solutions Profile
OMNOVA Solutions Inc is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company’s segments include Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene, styrene butadiene acrylonitrile, styrene butadiene vinyl pyridine, nitrile butadiene, polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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