American Century Companies Inc. boosted its holdings in shares of OMNOVA Solutions Inc. (NYSE:OMN) by 4.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,137 shares of the specialty chemicals company’s stock after purchasing an additional 12,256 shares during the period. American Century Companies Inc. owned about 0.65% of OMNOVA Solutions worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of OMN. Envestnet Asset Management Inc. lifted its position in OMNOVA Solutions by 4.9% during the first quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the specialty chemicals company’s stock valued at $100,000 after purchasing an additional 472 shares during the period. Nine Chapters Capital Management LLC purchased a new position in OMNOVA Solutions in the first quarter valued at $142,000. Karp Capital Management Corp purchased a new position in OMNOVA Solutions in the first quarter valued at $158,000. Acadian Asset Management LLC purchased a new position in OMNOVA Solutions in the second quarter valued at $185,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in OMNOVA Solutions in the second quarter valued at $190,000. Institutional investors own 88.01% of the company’s stock.
A number of research firms have weighed in on OMN. Zacks Investment Research cut shares of OMNOVA Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. KeyCorp reaffirmed a “hold” rating on shares of OMNOVA Solutions in a report on Thursday, August 24th. BidaskClub cut shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of OMNOVA Solutions in a report on Friday, June 16th. Finally, Sidoti began coverage on shares of OMNOVA Solutions in a report on Tuesday, June 13th. They issued a “buy” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $11.67.
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OMNOVA Solutions Inc. (NYSE OMN) opened at 9.10 on Wednesday. The stock’s market cap is $408.69 million. OMNOVA Solutions Inc. has a 12-month low of $7.05 and a 12-month high of $10.27. The firm has a 50-day moving average of $9.05 and a 200-day moving average of $9.14.
OMNOVA Solutions (NYSE:OMN) last released its earnings results on Wednesday, June 28th. The specialty chemicals company reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. OMNOVA Solutions had a negative net margin of 1.19% and a positive return on equity of 18.52%. The company had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $204.40 million. During the same quarter last year, the business earned $0.18 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Equities analysts predict that OMNOVA Solutions Inc. will post $0.59 earnings per share for the current fiscal year.
About OMNOVA Solutions
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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