Teton Advisors Inc. held its position in OMNOVA Solutions Inc. (NYSE:OMN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,000 shares of the specialty chemicals company’s stock at the end of the second quarter. Teton Advisors Inc. owned 0.58% of OMNOVA Solutions worth $2,535,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in OMN. Envestnet Asset Management Inc. increased its position in OMNOVA Solutions by 4.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 472 shares during the period. Acrospire Investment Management LLC increased its position in OMNOVA Solutions by 24.1% in the first quarter. Acrospire Investment Management LLC now owns 13,344 shares of the specialty chemicals company’s stock worth $132,000 after buying an additional 2,590 shares during the period. Nine Chapters Capital Management LLC purchased a new position in OMNOVA Solutions during the first quarter worth $142,000. Karp Capital Management Corp purchased a new position in OMNOVA Solutions during the first quarter worth $158,000. Finally, Acadian Asset Management LLC purchased a new position in OMNOVA Solutions during the second quarter worth $185,000. 87.38% of the stock is owned by hedge funds and other institutional investors.
OMNOVA Solutions Inc. (NYSE:OMN) opened at 8.85 on Friday. The firm’s market cap is $397.46 million. OMNOVA Solutions Inc. has a 52-week low of $7.05 and a 52-week high of $10.42. The firm’s 50-day moving average price is $9.53 and its 200-day moving average price is $9.17.
OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, June 28th. The specialty chemicals company reported $0.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.16. OMNOVA Solutions had a positive return on equity of 19.65% and a negative net margin of 1.19%. The firm had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $204.40 million. During the same quarter last year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts expect that OMNOVA Solutions Inc. will post $0.59 EPS for the current year.
A number of equities analysts have weighed in on the company. BidaskClub raised OMNOVA Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded OMNOVA Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of OMNOVA Solutions in a research report on Friday, June 16th. Sidoti assumed coverage on OMNOVA Solutions in a research report on Tuesday, June 13th. They set a “buy” rating and a $12.00 price target for the company. Finally, ValuEngine raised OMNOVA Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.67.
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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