OMNOVA Solutions Inc. (NYSE:OMN) saw unusually-high trading volume on Tuesday . Approximately 1,033,824 shares were traded during mid-day trading, an increase of 532% from the previous session’s volume of 163,538 shares.The stock last traded at $8.57 and had previously closed at $8.44.
A number of research analysts have recently commented on the company. TheStreet cut OMNOVA Solutions from a “c-” rating to a “d+” rating in a research note on Thursday, December 27th. ValuEngine raised OMNOVA Solutions from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 6th.
The stock has a market cap of $374.05 million, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.21 and a beta of 2.20. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.89 and a quick ratio of 1.30.
OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Thursday, January 31st. The specialty chemicals company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). OMNOVA Solutions had a net margin of 2.69% and a return on equity of 57.06%. The business had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $191.98 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. OMNOVA Solutions’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that OMNOVA Solutions Inc. will post 0.71 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in OMN. Bank of New York Mellon Corp increased its position in shares of OMNOVA Solutions by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,713,685 shares of the specialty chemicals company’s stock valued at $49,021,000 after acquiring an additional 326,115 shares during the period. BlackRock Inc. lifted its position in shares of OMNOVA Solutions by 5.0% during the 2nd quarter. BlackRock Inc. now owns 3,306,799 shares of the specialty chemicals company’s stock worth $34,391,000 after purchasing an additional 158,564 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of OMNOVA Solutions during the 3rd quarter worth $1,279,000. Marshall Wace LLP purchased a new stake in shares of OMNOVA Solutions during the 3rd quarter worth $1,038,000. Finally, Crestline Management LP purchased a new stake in shares of OMNOVA Solutions during the 3rd quarter worth $784,000. Institutional investors and hedge funds own 91.07% of the company’s stock.
About OMNOVA Solutions (NYSE:OMN)
OMNOVA Solutions Inc provides specialty solutions and performance materials for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. Its Specialty Solutions segment designs, develops, produces, and markets specialty products for use 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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