California Public Employees Retirement System increased its position in shares of Omnova Solutions Inc. (NYSE:OMN) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 235,900 shares of the company’s stock after buying an additional 14,800 shares during the period. California Public Employees Retirement System owned approximately 0.52% of Omnova Solutions worth $1,710,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of OMN. JPMorgan Chase & Co. raised its stake in Omnova Solutions by 2,157.4% in the first quarter. JPMorgan Chase & Co. now owns 3,031,851 shares of the company’s stock worth $16,857,000 after buying an additional 2,897,541 shares during the last quarter. Menta Capital LLC raised its stake in Omnova Solutions by 25.2% in the first quarter. Menta Capital LLC now owns 89,249 shares of the company’s stock worth $496,000 after buying an additional 17,936 shares during the last quarter. Spark Investment Management LLC raised its stake in Omnova Solutions by 48.1% in the first quarter. Spark Investment Management LLC now owns 255,700 shares of the company’s stock worth $1,421,000 after buying an additional 83,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Omnova Solutions by 534.6% in the first quarter. Goldman Sachs Group Inc. now owns 126,856 shares of the company’s stock worth $705,000 after buying an additional 106,867 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Omnova Solutions by 3.2% in the first quarter. Geode Capital Management LLC now owns 279,690 shares of the company’s stock worth $1,555,000 after buying an additional 8,676 shares during the last quarter. 84.98% of the stock is owned by institutional investors.
Shares of Omnova Solutions Inc. (NYSE:OMN) traded down 2.35% during mid-day trading on Friday, hitting $8.31. The company had a trading volume of 232,544 shares. Omnova Solutions Inc. has a 1-year low of $4.37 and a 1-year high of $10.42. The company’s market capitalization is $375.00 million. The company has a 50-day moving average price of $9.31 and a 200-day moving average price of $7.90.
Omnova Solutions (NYSE:OMN) last announced its quarterly earnings results on Thursday, September 22nd. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.03. The firm earned $195.60 million during the quarter. Omnova Solutions had a negative net margin of 1.05% and a positive return on equity of 18.39%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. On average, equities analysts anticipate that Omnova Solutions Inc. will post $0.50 EPS for the current year.
A number of analysts have commented on the company. TheStreet raised Omnova Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a report on Wednesday, July 6th. Finally, Zacks Investment Research raised Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Friday, July 1st.
In related news, Director James A. Mitarotonda bought 38,313 shares of the stock in a transaction on Thursday, September 29th. The stock was bought at an average price of $8.11 per share, for a total transaction of $310,718.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas E. Wenger sold 8,671 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $9.73, for a total value of $84,368.83. Following the sale, the senior vice president now owns 168,408 shares of the company’s stock, valued at approximately $1,638,609.84. The disclosure for this sale can be found here. 6.76% of the stock is owned by corporate insiders.
Omnova Solutions Company Profile
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.