OMNOVA Solutions Inc. (NYSE:OMN) Sees Large Growth in Short Interest

OMNOVA Solutions Inc. (NYSE:OMN) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 386,100 shares, an increase of 24.0% from the July 31st total of 311,300 shares. Based on an average daily volume of 711,700 shares, the short-interest ratio is presently 0.5 days. Approximately 0.9% of the shares of the stock are short sold.

Several brokerages have recently weighed in on OMN. Sidoti cut OMNOVA Solutions from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Wednesday, July 3rd. Zacks Investment Research upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. ValuEngine cut OMNOVA Solutions from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 3rd. Finally, Deutsche Bank cut OMNOVA Solutions from a “buy” rating to a “hold” rating and set a $9.91 target price on the stock. in a report on Friday, July 5th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.96.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC lifted its holdings in OMNOVA Solutions by 48.1% in the second quarter. Quantamental Technologies LLC now owns 4,000 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 1,300 shares during the last quarter. A.R.T. Advisors LLC lifted its holdings in OMNOVA Solutions by 11.1% in the second quarter. A.R.T. Advisors LLC now owns 15,883 shares of the specialty chemicals company’s stock valued at $99,000 after acquiring an additional 1,587 shares during the last quarter. White Pine Capital LLC lifted its holdings in OMNOVA Solutions by 1.2% in the first quarter. White Pine Capital LLC now owns 161,975 shares of the specialty chemicals company’s stock valued at $1,137,000 after acquiring an additional 1,950 shares during the last quarter. Bank of Montreal Can lifted its holdings in OMNOVA Solutions by 40.3% in the second quarter. Bank of Montreal Can now owns 9,770 shares of the specialty chemicals company’s stock valued at $61,000 after acquiring an additional 2,808 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in OMNOVA Solutions by 0.7% in the second quarter. Panagora Asset Management Inc. now owns 561,347 shares of the specialty chemicals company’s stock valued at $3,497,000 after acquiring an additional 3,836 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.



Shares of OMNOVA Solutions stock traded up $0.01 on Thursday, hitting $10.08. 226,800 shares of the company were exchanged, compared to its average volume of 378,562. The stock has a market capitalization of $452.04 million, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.92 and a beta of 2.21. The company has a 50-day moving average price of $10.03 and a 200 day moving average price of $8.06. OMNOVA Solutions has a 1-year low of $5.48 and a 1-year high of $10.70. The company has a quick ratio of 1.26, a current ratio of 1.89 and a debt-to-equity ratio of 5.36.

OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Wednesday, July 3rd. The specialty chemicals company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10). OMNOVA Solutions had a net margin of 0.79% and a return on equity of 33.50%. The business had revenue of $205.70 million during the quarter, compared to analyst estimates of $210.55 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Research analysts forecast that OMNOVA Solutions will post 0.52 EPS for the current year.

About OMNOVA Solutions

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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