Nordea Investment Management AB Sells 36,100 Shares of OMNOVA Solutions Inc. (OMN)

Nordea Investment Management AB lowered its position in shares of OMNOVA Solutions Inc. (NYSE:OMN) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 349,100 shares of the specialty chemicals company’s stock after selling 36,100 shares during the quarter. Nordea Investment Management AB owned 0.78% of OMNOVA Solutions worth $3,823,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its position in OMNOVA Solutions by 28.2% during the 2nd quarter. Synovus Financial Corp now owns 145,178 shares of the specialty chemicals company’s stock worth $1,416,000 after acquiring an additional 31,926 shares during the last quarter. American Century Companies Inc. boosted its position in OMNOVA Solutions by 4.4% during the 2nd quarter. American Century Companies Inc. now owns 291,137 shares of the specialty chemicals company’s stock worth $2,839,000 after acquiring an additional 12,256 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in OMNOVA Solutions by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,209,084 shares of the specialty chemicals company’s stock worth $21,538,000 after acquiring an additional 14,945 shares during the last quarter. Northern Trust Corp boosted its position in OMNOVA Solutions by 8.2% during the 2nd quarter. Northern Trust Corp now owns 705,492 shares of the specialty chemicals company’s stock worth $6,878,000 after acquiring an additional 53,607 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in OMNOVA Solutions by 28.9% during the 2nd quarter. Nationwide Fund Advisors now owns 149,785 shares of the specialty chemicals company’s stock worth $1,460,000 after acquiring an additional 33,592 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded OMNOVA Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. KeyCorp reiterated a “hold” rating on shares of OMNOVA Solutions in a research note on Thursday, August 24th. ValuEngine upgraded OMNOVA Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Finally, Jefferies Group reiterated a “buy” rating and set a $12.00 price objective on shares of OMNOVA Solutions in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. OMNOVA Solutions has a consensus rating of “Hold” and an average price target of $11.67.

Shares of OMNOVA Solutions Inc. (NYSE:OMN) remained flat at $$10.70 during trading on Monday. The company had a trading volume of 106,600 shares, compared to its average volume of 137,756. OMNOVA Solutions Inc. has a 12 month low of $8.10 and a 12 month high of $11.60. The company has a market cap of $480.55, a P/E ratio of 17.83, a PEG ratio of 1.55 and a beta of 2.18. The company has a current ratio of 2.38, a quick ratio of 1.71 and a debt-to-equity ratio of 2.78.

OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. OMNOVA Solutions had a positive return on equity of 22.71% and a negative net margin of 0.78%. The company had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $203.12 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. sell-side analysts expect that OMNOVA Solutions Inc. will post 0.62 earnings per share for the current 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.

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

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