OMNOVA Solutions Inc. (NYSE:OMN) Short Interest Update

OMNOVA Solutions Inc. (NYSE:OMN) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 311,300 shares, a decline of 17.0% from the June 30th total of 374,900 shares. Based on an average daily trading volume, of 686,500 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.7% of the shares of the company are sold short.

Shares of NYSE OMN traded up $0.01 during trading hours on Thursday, reaching $10.04. The stock had a trading volume of 266,700 shares, compared to its average volume of 387,516. The business’s fifty day moving average is $9.55 and its two-hundred day moving average is $7.81. The company has a debt-to-equity ratio of 5.36, a current ratio of 1.89 and a quick ratio of 1.26. The company has a market cap of $449.79 million, a price-to-earnings ratio of 15.94, a PEG ratio of 1.91 and a beta of 2.21. OMNOVA Solutions has a twelve month low of $5.48 and a twelve month high of $10.70.

OMNOVA Solutions (NYSE:OMN) last issued its earnings results on Wednesday, July 3rd. The specialty chemicals company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10). The firm had revenue of $205.70 million during the quarter, compared to analyst estimates of $210.55 million. OMNOVA Solutions had a net margin of 0.79% and a return on equity of 33.50%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Sell-side analysts forecast that OMNOVA Solutions will post 0.52 earnings per share for the current fiscal year.

A number of brokerages have recently commented on OMN. Zacks Investment Research lowered OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Sidoti lowered OMNOVA Solutions from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, July 3rd. Deutsche Bank lowered OMNOVA Solutions from a “buy” rating to a “hold” rating and set a $9.91 price target for the company. in a report on Friday, July 5th. Finally, ValuEngine lowered OMNOVA Solutions from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.96.

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new position in shares of OMNOVA Solutions in the first quarter valued at $27,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of OMNOVA Solutions by 2.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 150,355 shares of the specialty chemicals company’s stock valued at $1,055,000 after purchasing an additional 4,080 shares in the last quarter. White Pine Capital LLC raised its stake in shares of OMNOVA Solutions by 1.2% in the first quarter. White Pine Capital LLC now owns 161,975 shares of the specialty chemicals company’s stock valued at $1,137,000 after purchasing an additional 1,950 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in OMNOVA Solutions by 12.6% during the first quarter. Wedge Capital Management L L P NC now owns 276,721 shares of the specialty chemicals company’s stock worth $1,943,000 after acquiring an additional 31,048 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in OMNOVA Solutions by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 511,232 shares of the specialty chemicals company’s stock worth $3,747,000 after acquiring an additional 80,678 shares in the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.

OMNOVA Solutions Company Profile

OMNOVA Solutions Inc provides specialty solutions and performance materials for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. Its Specialty Solutions segment designs, develops, produces, and markets specialty products for use 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.

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