Two Sigma Investments LP lifted its position in shares of OMNOVA Solutions Inc. (NYSE:OMN) by 69.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 118,018 shares of the specialty chemicals company’s stock after acquiring an additional 48,263 shares during the period. Two Sigma Investments LP owned 0.26% of OMNOVA Solutions worth $1,180,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its position in shares of OMNOVA Solutions by 19.1% during the fourth quarter. Two Sigma Advisers LP now owns 158,490 shares of the specialty chemicals company’s stock worth $1,585,000 after acquiring an additional 25,463 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in OMNOVA Solutions by 39.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 93,948 shares of the specialty chemicals company’s stock worth $939,000 after purchasing an additional 26,773 shares during the period. Deutsche Bank AG lifted its holdings in OMNOVA Solutions by 95.3% in the fourth quarter. Deutsche Bank AG now owns 305,664 shares of the specialty chemicals company’s stock worth $3,055,000 after purchasing an additional 149,151 shares during the period. Thrivent Financial For Lutherans lifted its holdings in OMNOVA Solutions by 16.4% in the fourth quarter. Thrivent Financial For Lutherans now owns 636,981 shares of the specialty chemicals company’s stock worth $6,370,000 after purchasing an additional 89,864 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in OMNOVA Solutions by 21.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,676,775 shares of the specialty chemicals company’s stock worth $16,768,000 after purchasing an additional 301,800 shares during the period. Institutional investors and hedge funds own 89.44% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. ValuEngine raised shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.67.
OMN stock opened at $10.95 on Friday. The stock has a market capitalization of $481.71, a P/E ratio of 19.55, a P/E/G ratio of 1.61 and a beta of 2.08. OMNOVA Solutions Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $11.60. The company has a debt-to-equity ratio of 6.66, a current ratio of 2.03 and a quick ratio of 1.31.
OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data on Wednesday, March 28th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $178.70 million during the quarter, compared to the consensus estimate of $174.65 million. OMNOVA Solutions had a negative net margin of 10.67% and a positive return on equity of 32.70%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 earnings per share. analysts anticipate that OMNOVA Solutions Inc. will post 0.67 EPS for the current fiscal year.
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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.
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