Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Takes $155,000 Position in OMNOVA Solutions Inc. (OMN)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in OMNOVA Solutions Inc. (NYSE:OMN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,900 shares of the specialty chemicals company’s stock, valued at approximately $155,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in OMNOVA Solutions by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 4,713,685 shares of the specialty chemicals company’s stock valued at $49,021,000 after purchasing an additional 326,115 shares during the last quarter. BlackRock Inc. boosted its holdings in OMNOVA Solutions by 5.0% in the second quarter. BlackRock Inc. now owns 3,306,799 shares of the specialty chemicals company’s stock valued at $34,391,000 after purchasing an additional 158,564 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in OMNOVA Solutions by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,246,167 shares of the specialty chemicals company’s stock valued at $23,360,000 after purchasing an additional 9,996 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in OMNOVA Solutions by 3.8% in the second quarter. Renaissance Technologies LLC now owns 1,874,275 shares of the specialty chemicals company’s stock valued at $19,492,000 after purchasing an additional 67,800 shares during the last quarter. Finally, Winslow Asset Management Inc. boosted its holdings in OMNOVA Solutions by 0.9% in the second quarter. Winslow Asset Management Inc. now owns 1,062,425 shares of the specialty chemicals company’s stock valued at $11,049,000 after purchasing an additional 9,617 shares during the last quarter. 90.80% of the stock is owned by hedge funds and other institutional investors.

In other OMNOVA Solutions news, VP Charles M. Chrisman sold 3,507 shares of the company’s stock in a transaction that occurred on Friday, July 6th. The stock was sold at an average price of $10.24, for a total transaction of $35,911.68. Following the sale, the vice president now owns 3,000 shares in the company, valued at $30,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.63% of the company’s stock.

A number of research analysts recently commented on OMN shares. ValuEngine downgraded OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Jefferies Financial Group reissued a “hold” rating on shares of OMNOVA Solutions in a report on Thursday, May 31st.

Shares of NYSE OMN opened at $9.95 on Tuesday. OMNOVA Solutions Inc. has a 52-week low of $8.30 and a 52-week high of $11.90. The company has a market cap of $459.94 million, a price-to-earnings ratio of 17.77, a PEG ratio of 1.54 and a beta of 2.08. The company has a debt-to-equity ratio of 6.05, a quick ratio of 1.44 and a current ratio of 2.08.

OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Thursday, June 28th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. OMNOVA Solutions had a positive return on equity of 43.56% and a negative net margin of 8.97%. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $204.08 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. OMNOVA Solutions’s revenue for the quarter was down 6.8% compared to the same quarter last year. equities research analysts predict that OMNOVA Solutions Inc. will post 0.67 EPS for the current fiscal year.

OMNOVA Solutions Profile

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.

Read More: Intrinsic Value and Stock Selection

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

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