OMNOVA Solutions Inc. (OMN) Position Raised by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC boosted its position in OMNOVA Solutions Inc. (NYSE:OMN) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,090 shares of the specialty chemicals company’s stock after purchasing an additional 3,334 shares during the period. TIAA CREF Investment Management LLC owned about 0.32% of OMNOVA Solutions worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Karp Capital Management Corp acquired a new stake in OMNOVA Solutions in the first quarter valued at about $158,000. Acadian Asset Management LLC acquired a new stake in OMNOVA Solutions in the second quarter valued at about $185,000. Campbell & CO Investment Adviser LLC acquired a new stake in OMNOVA Solutions in the second quarter valued at about $190,000. Marshall Wace North America L.P. acquired a new stake in OMNOVA Solutions in the second quarter valued at about $221,000. Finally, American International Group Inc. lifted its position in OMNOVA Solutions by 7.1% in the first quarter. American International Group Inc. now owns 26,169 shares of the specialty chemicals company’s stock valued at $259,000 after purchasing an additional 1,738 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.
A number of brokerages recently commented on OMN. BidaskClub downgraded shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. ValuEngine raised shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research cut shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of OMNOVA Solutions in a report on Friday, September 29th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of OMNOVA Solutions in a report on Thursday, October 12th. One investment 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. The stock presently has an average rating of “Hold” and an average target price of $11.67.
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OMNOVA Solutions Inc. (NYSE OMN) opened at $11.25 on Tuesday. OMNOVA Solutions Inc. has a 1-year low of $7.10 and a 1-year high of $11.60. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.38 and a quick ratio of 1.71. The stock has a market cap of $496.27, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.80 and a beta of 2.22.
OMNOVA Solutions (NYSE:OMN) last issued its earnings results on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.07. OMNOVA Solutions had a negative net margin of 0.78% and a positive return on equity of 22.71%. The company had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $203.12 million. During the same period last year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. equities research analysts anticipate that OMNOVA Solutions Inc. will post 0.62 EPS for the current year.
OMNOVA Solutions Company Profile
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.
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