BlackRock Inc. lessened its holdings in OMNOVA Solutions Inc. (NYSE:OMN) by 5.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,186,020 shares of the specialty chemicals company’s stock after selling 201,008 shares during the period. BlackRock Inc. owned about 0.07% of OMNOVA Solutions worth $31,860,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of OMNOVA Solutions by 18.5% in the 4th quarter. Wells Fargo & Company MN now owns 96,323 shares of the specialty chemicals company’s stock worth $963,000 after purchasing an additional 15,045 shares during the period. Teacher Retirement System of Texas bought a new position in shares of OMNOVA Solutions in the 4th quarter worth approximately $156,000. Teton Advisors Inc. lifted its stake in shares of OMNOVA Solutions by 3.1% in the 4th quarter. Teton Advisors Inc. now owns 268,000 shares of the specialty chemicals company’s stock worth $2,680,000 after purchasing an additional 8,000 shares during the period. Algert Global LLC lifted its stake in shares of OMNOVA Solutions by 75.5% in the 4th quarter. Algert Global LLC now owns 156,183 shares of the specialty chemicals company’s stock worth $1,562,000 after purchasing an additional 67,212 shares during the period. Finally, Cigna Investments Inc. New bought a new position in shares of OMNOVA Solutions in the 4th quarter worth approximately $239,000. Hedge funds and other institutional investors own 89.44% of the company’s stock.
Several equities analysts have recently weighed in on OMN shares. ValuEngine upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded shares of OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. OMNOVA Solutions currently has an average rating of “Hold” and a consensus price target of $11.67.
OMNOVA Solutions (NYSE:OMN) last released its earnings results on Wednesday, March 28th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. OMNOVA Solutions had a negative net margin of 10.67% and a positive return on equity of 32.70%. The company had revenue of $178.70 million for the quarter, compared to analysts’ expectations of $174.65 million. During the same quarter last year, the business earned $0.05 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. analysts expect that OMNOVA Solutions Inc. will post 0.67 earnings per share for the current year.
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About OMNOVA Solutions
OMNOVA Solutions Inc provides emulsion polymers, specialty chemicals, and engineered surfaces for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. The company operates in two segments, Specialty Solutions and Performance Materials. The Specialty Solutions segment designs, develops, produces, and markets specialty polymers which are used 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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