Dynamic Technology Lab Private Ltd purchased a new position in OMNOVA Solutions Inc. (NYSE:OMN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,807 shares of the specialty chemicals company’s stock, valued at approximately $272,000. Dynamic Technology Lab Private Ltd owned approximately 0.06% of OMNOVA Solutions as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of OMN. Macquarie Group Ltd. acquired a new position in OMNOVA Solutions in the third quarter valued at approximately $851,000. IndexIQ Advisors LLC boosted its stake in OMNOVA Solutions by 83.1% in the third quarter. IndexIQ Advisors LLC now owns 87,548 shares of the specialty chemicals company’s stock valued at $959,000 after acquiring an additional 39,723 shares during the period. Stevens Capital Management LP acquired a new position in OMNOVA Solutions in the third quarter valued at approximately $166,000. Wedge Capital Management L L P NC boosted its stake in OMNOVA Solutions by 20.4% in the third quarter. Wedge Capital Management L L P NC now owns 205,771 shares of the specialty chemicals company’s stock valued at $2,253,000 after acquiring an additional 34,839 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new position in OMNOVA Solutions in the third quarter valued at approximately $181,000. Institutional investors and hedge funds own 88.89% of the company’s stock.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Jefferies Group restated a “buy” rating and issued a $12.00 target price on shares of OMNOVA Solutions in a research note on Thursday, October 12th. ValuEngine downgraded OMNOVA Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. KeyCorp restated a “hold” rating on shares of OMNOVA Solutions in a research note on Friday, September 29th. Finally, BidaskClub upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. OMNOVA Solutions has a consensus rating of “Hold” and a consensus target price of $11.67.
OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings results on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.07. The company had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $203.12 million. OMNOVA Solutions had a positive return on equity of 22.71% and a negative net margin of 0.78%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. analysts anticipate that OMNOVA Solutions Inc. will post 0.62 earnings per share for the current fiscal year.
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About OMNOVA Solutions
OMNOVA Solutions Inc is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company’s segments include Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene, styrene butadiene acrylonitrile, styrene butadiene vinyl pyridine, nitrile butadiene, polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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