OMNOVA Solutions Inc. (NYSE:OMN)’s share price traded up 9.7% on Wednesday . The company traded as high as $6.25 and last traded at $6.20. 243,373 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 165,337 shares. The stock had previously closed at $5.65.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of OMNOVA Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine lowered shares of OMNOVA Solutions from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 6th.
The company has a market capitalization of $249.79 million, a price-to-earnings ratio of 9.84, a PEG ratio of 0.88 and a beta of 2.22. The firm has a 50-day moving average of $6.12. The company has a debt-to-equity ratio of 5.56, a current ratio of 1.86 and a quick ratio of 1.17.
OMNOVA Solutions (NYSE:OMN) last issued its earnings results on Wednesday, March 27th. The specialty chemicals company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.12). The company had revenue of $168.90 million for the quarter, compared to analysts’ expectations of $185.00 million. OMNOVA Solutions had a return on equity of 41.90% and a net margin of 1.16%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Analysts forecast that OMNOVA Solutions Inc. will post 0.63 earnings per share for the current year.
Large investors have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of OMNOVA Solutions by 3.3% during the first quarter. Nordea Investment Management AB now owns 200,786 shares of the specialty chemicals company’s stock worth $1,410,000 after purchasing an additional 6,500 shares during the last quarter. White Pine Capital LLC raised its holdings in shares of OMNOVA Solutions by 1.2% during the first quarter. White Pine Capital LLC now owns 161,975 shares of the specialty chemicals company’s stock worth $1,137,000 after purchasing an additional 1,950 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of OMNOVA Solutions by 21.2% during the first quarter. Synovus Financial Corp now owns 190,704 shares of the specialty chemicals company’s stock worth $1,338,000 after purchasing an additional 33,301 shares during the last quarter. Acadian Asset Management LLC purchased a new position in OMNOVA Solutions in the first quarter valued at $310,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in OMNOVA Solutions by 2.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 150,355 shares of the specialty chemicals company’s stock valued at $1,055,000 after buying an additional 4,080 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.
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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