Algert Global LLC purchased a new stake in shares of Omnova Solutions Inc. (NYSE:OMN) during the third quarter, Holdings Channel reports. The institutional investor purchased 18,231 shares of the company’s stock, valued at approximately $154,000.
A number of other large investors have also made changes to their positions in OMN. Schwab Charles Investment Management Inc. increased its stake in shares of Omnova Solutions by 123.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 332,674 shares of the company’s stock valued at $2,412,000 after buying an additional 184,095 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Omnova Solutions during the second quarter valued at about $396,000. American Century Companies Inc. increased its stake in shares of Omnova Solutions by 86.2% in the second quarter. American Century Companies Inc. now owns 75,437 shares of the company’s stock valued at $547,000 after buying an additional 34,926 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Omnova Solutions during the second quarter valued at about $117,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Omnova Solutions during the second quarter valued at about $100,000. 80.23% of the stock is owned by institutional investors and hedge funds.
Omnova Solutions Inc. (NYSE:OMN) traded down 1.06% on Friday, reaching $9.30. The company’s stock had a trading volume of 34,661 shares. The firm’s market cap is $419.67 million. Omnova Solutions Inc. has a 12 month low of $4.37 and a 12 month high of $10.42. The firm has a 50 day moving average of $8.25 and a 200 day moving average of $8.35.
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 the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Omnova Solutions had a positive return on equity of 18.39% and a negative net margin of 1.05%. The company had revenue of $195.60 million for the quarter. During the same period in the prior year, the business earned $0.13 EPS. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. Analysts anticipate that Omnova Solutions Inc. will post $0.50 earnings per share for the current year.
Separately, Zacks Investment Research downgraded Omnova Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st.
In related news, Director James A. Mitarotonda purchased 38,313 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was acquired at an average price of $8.11 per share, for a total transaction of $310,718.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.76% of the company’s stock.
About Omnova Solutions
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.