Zacks Investment Research Lowers OMNOVA Solutions (OMN) to Sell
Zacks Investment Research lowered shares of OMNOVA Solutions (NYSE:OMN) from a hold rating to a sell rating in a research report released on Tuesday.
According to Zacks, “Omnova Solutions Inc. develops, manufactures and markets emulsion polymers, specialty chemicals and decorative and building products for a variety of industrial, commercial and consumer markets. The Performance Chemicals unit’s broad range of emulsion polymers and specialty chemicals are used as coatings, binders, adhesives, and additives for paper, carpet, textile and various other industries. “
A number of other equities analysts also recently commented on OMN. ValuEngine downgraded shares of OMNOVA Solutions from a sell rating to a strong sell rating in a report on Monday, December 17th. TheStreet downgraded shares of OMNOVA Solutions from a c- rating to a d+ rating in a report on Thursday, December 27th.
OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Thursday, January 31st. The specialty chemicals company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $191.30 million for the quarter, compared to the consensus estimate of $191.98 million. OMNOVA Solutions had a return on equity of 57.06% and a net margin of 2.69%. OMNOVA Solutions’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. On average, equities research analysts expect that OMNOVA Solutions will post 0.66 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of OMNOVA Solutions by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,741,000 shares of the specialty chemicals company’s stock worth $46,699,000 after acquiring an additional 27,315 shares during the period. BlackRock Inc. lifted its holdings in OMNOVA Solutions by 1.1% during the 3rd quarter. BlackRock Inc. now owns 3,342,736 shares of the specialty chemicals company’s stock valued at $32,925,000 after purchasing an additional 35,937 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in OMNOVA Solutions by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,262,942 shares of the specialty chemicals company’s stock valued at $22,290,000 after purchasing an additional 16,775 shares during the last quarter. Vanguard Group Inc lifted its holdings in OMNOVA Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 2,096,657 shares of the specialty chemicals company’s stock valued at $20,653,000 after purchasing an additional 6,521 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in OMNOVA Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,096,657 shares of the specialty chemicals company’s stock valued at $20,653,000 after purchasing an additional 6,521 shares during the last quarter. 91.32% of the stock is owned by institutional investors.
About OMNOVA Solutions
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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