Synovus Financial Corp Grows Holdings in OMNOVA Solutions Inc. (OMN)

Synovus Financial Corp grew its stake in OMNOVA Solutions Inc. (NYSE:OMN) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,927 shares of the specialty chemicals company’s stock after acquiring an additional 6,749 shares during the quarter. Synovus Financial Corp owned about 0.34% of OMNOVA Solutions worth $1,664,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in OMN. Acrospire Investment Management LLC increased its holdings in shares of OMNOVA Solutions by 2.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 13,632 shares of the specialty chemicals company’s stock valued at $133,000 after acquiring an additional 288 shares during the period. Stevens Capital Management LP purchased a new position in shares of OMNOVA Solutions in the 3rd quarter valued at $166,000. Nine Chapters Capital Management LLC purchased a new position in shares of OMNOVA Solutions in the 3rd quarter valued at $181,000. Acadian Asset Management LLC purchased a new position in shares of OMNOVA Solutions in the 2nd quarter valued at $185,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of OMNOVA Solutions in the 2nd quarter valued at $221,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

OMNOVA Solutions Inc. (OMN) traded down $0.20 during trading on Thursday, hitting $10.00. The stock had a trading volume of 92,100 shares, compared to its average volume of 137,205. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.38 and a quick ratio of 1.71. The firm has a market cap of $458.10, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.48 and a beta of 2.18. OMNOVA Solutions Inc. has a 52-week low of $8.10 and a 52-week high of $11.60.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.07. The firm had revenue of $200.90 million during 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. equities research analysts forecast that OMNOVA Solutions Inc. will post 0.62 EPS for the current year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Jefferies Group reiterated a “buy” rating and issued a $12.00 price target on shares of OMNOVA Solutions in a report on Thursday, October 12th. ValuEngine downgraded OMNOVA Solutions from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. KeyCorp reiterated a “hold” rating on shares of OMNOVA Solutions in a report on Friday, September 29th. Finally, BidaskClub upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. OMNOVA Solutions currently has a consensus rating of “Hold” and an average target price of $11.67.

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OMNOVA Solutions Profile

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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Institutional Ownership by Quarter for OMNOVA Solutions (NYSE:OMN)

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