Omnova Solutions Inc. (OMN) Trading 4.3% Higher After Insider Buying Activity
Shares of Omnova Solutions Inc. (NYSE:OMN) traded up 4.3% on Friday after an insider bought additional shares in the company. The company traded as high as $8.53 and last traded at $8.40, with a volume of 325,385 shares trading hands. The stock had previously closed at $8.05.
Specifically, Director James A. Mitarotonda acquired 38,313 shares of the stock in a transaction dated Thursday, September 29th. The shares were acquired at an average price of $8.11 per share, for a total transaction of $310,718.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas E. Wenger sold 8,671 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $9.73, for a total transaction of $84,368.83. Following the completion of the sale, the senior vice president now owns 168,408 shares in the company, valued at approximately $1,638,609.84. The disclosure for this sale can be found here. 6.76% of the stock is currently owned by insiders.
Several brokerages recently commented on OMN. TheStreet raised Omnova Solutions from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Zacks Investment Research cut Omnova Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, September 24th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th.
The company’s market capitalization is $380.86 million. The stock’s 50-day moving average price is $9.44 and its 200 day moving average price is $7.80.
Omnova Solutions (NYSE:OMN) last announced its quarterly earnings data on Thursday, September 22nd. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.03. Omnova Solutions had a positive return on equity of 18.39% and a negative net margin of 1.05%. The company had revenue of $195.60 million for the quarter. During the same quarter in the prior year, the company posted $0.13 EPS. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. Equities analysts anticipate that Omnova Solutions Inc. will post $0.50 EPS for the current year.
Large investors have recently made changes to their positions in the company. Barington Capital Group L.P. boosted its stake in shares of Omnova Solutions by 4.6% in the first quarter. Barington Capital Group L.P. now owns 971,825 shares of the company’s stock worth $5,403,000 after buying an additional 43,038 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Omnova Solutions by 5.8% in the first quarter. Wellington Management Group LLP now owns 3,465,825 shares of the company’s stock worth $19,270,000 after buying an additional 191,211 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Omnova Solutions by 3.4% in the first quarter. Royal Bank of Canada now owns 4,144,559 shares of the company’s stock worth $23,043,000 after buying an additional 137,590 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in shares of Omnova Solutions by 9.2% in the second quarter. Alambic Investment Management L.P. now owns 153,071 shares of the company’s stock worth $1,110,000 after buying an additional 12,880 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Omnova Solutions by 2,157.4% in the first quarter. JPMorgan Chase & Co. now owns 3,031,851 shares of the company’s stock worth $16,857,000 after buying an additional 2,897,541 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.
About Omnova Solutions
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
Receive News & Stock Ratings for Omnova Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnova Solutions Inc. and related stocks with our FREE daily email newsletter.