Nordea Investment Management AB Increases Stock Holdings in OMNOVA Solutions Inc. (NYSE:OMN)

Nordea Investment Management AB grew its stake in shares of OMNOVA Solutions Inc. (NYSE:OMN) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,786 shares of the specialty chemicals company’s stock after buying an additional 6,500 shares during the quarter. Nordea Investment Management AB owned 0.45% of OMNOVA Solutions worth $1,410,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. White Pine Capital LLC raised its holdings in OMNOVA Solutions by 1.2% in the 1st quarter. White Pine Capital LLC now owns 161,975 shares of the specialty chemicals company’s stock valued at $1,137,000 after buying an additional 1,950 shares during the period. Synovus Financial Corp grew its position in OMNOVA Solutions by 21.2% in the 1st quarter. Synovus Financial Corp now owns 190,704 shares of the specialty chemicals company’s stock valued at $1,338,000 after acquiring an additional 33,301 shares in the last quarter. Acadian Asset Management LLC acquired a new position in OMNOVA Solutions in the 1st quarter valued at about $310,000. Connor Clark & Lunn Investment Management Ltd. grew its position in OMNOVA Solutions by 2.8% in the 1st 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 acquiring an additional 4,080 shares in the last quarter. Finally, Spark Investment Management LLC grew its position in OMNOVA Solutions by 8.6% in the 1st quarter. Spark Investment Management LLC now owns 133,971 shares of the specialty chemicals company’s stock valued at $940,000 after acquiring an additional 10,571 shares in the last quarter. Hedge funds and other institutional investors own 91.91% of the company’s stock.

OMNOVA Solutions stock traded up $0.02 during trading hours on Friday, hitting $10.00. The stock had a trading volume of 285,274 shares, compared to its average volume of 1,206,126. The company has a quick ratio of 1.26, a current ratio of 1.89 and a debt-to-equity ratio of 5.36. The company has a market cap of $447.55 million, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.90 and a beta of 2.19. OMNOVA Solutions Inc. has a 1-year low of $5.48 and a 1-year high of $10.70. The firm has a fifty day simple moving average of $7.23.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data 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 company had revenue of $205.70 million for 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 firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. On average, research analysts expect that OMNOVA Solutions Inc. will post 0.52 EPS for the current fiscal year.

A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Sidoti downgraded 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. ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Deutsche Bank reiterated a “hold” rating and issued a GBX 350 ($4.57) price objective on shares of in a research report on Friday, July 5th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $9.96.

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

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