ValuEngine upgraded shares of OMNOVA Solutions (NYSE:OMN) from a sell rating to a hold rating in a report released on Tuesday morning.
Separately, Jefferies Financial Group reaffirmed a hold rating on shares of OMNOVA Solutions in a research report on Thursday, May 31st.
Shares of OMNOVA Solutions stock opened at $9.55 on Tuesday. The company has a debt-to-equity ratio of 6.05, a current ratio of 2.08 and a quick ratio of 1.44. OMNOVA Solutions has a twelve month low of $8.30 and a twelve month high of $11.90. The firm has a market cap of $437.50 million, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.46 and a beta of 2.08.
OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings results on Thursday, June 28th. The specialty chemicals company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. OMNOVA Solutions had a negative net margin of 8.97% and a positive return on equity of 43.56%. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $204.08 million. During the same period in the prior year, the company earned $0.16 EPS. The firm’s revenue was down 6.8% on a year-over-year basis. sell-side analysts expect that OMNOVA Solutions will post 0.67 earnings per share for the current year.
In related news, VP Charles M. Chrisman sold 3,507 shares of the company’s stock in a transaction on Friday, July 6th. The shares were sold at an average price of $10.24, for a total transaction of $35,911.68. Following the completion of the sale, the vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $30,720. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.63% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in OMN. Schwab Charles Investment Management Inc. boosted its position in OMNOVA Solutions by 67.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 516,364 shares of the specialty chemicals company’s stock worth $5,422,000 after purchasing an additional 207,802 shares during the period. Synovus Financial Corp boosted its position in OMNOVA Solutions by 4.7% in the 1st quarter. Synovus Financial Corp now owns 156,502 shares of the specialty chemicals company’s stock valued at $1,646,000 after buying an additional 7,064 shares during the last quarter. Tygh Capital Management Inc. purchased a new position in OMNOVA Solutions in the 1st quarter valued at about $4,139,000. Teton Advisors Inc. boosted its position in OMNOVA Solutions by 17.2% in the 1st quarter. Teton Advisors Inc. now owns 314,062 shares of the specialty chemicals company’s stock valued at $3,298,000 after buying an additional 46,062 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in OMNOVA Solutions by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,236,171 shares of the specialty chemicals company’s stock valued at $23,480,000 after buying an additional 24,586 shares during the last quarter. 90.80% of the stock is owned by hedge funds and other institutional investors.
About OMNOVA Solutions
OMNOVA Solutions Inc provides emulsion polymers, specialty chemicals, and engineered surfaces for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. The company operates in two segments, Specialty Solutions and Performance Materials. The Specialty Solutions segment designs, develops, produces, and markets specialty polymers which are used in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for oil and gas drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.
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