Northern Trust Corp Acquires 53,607 Shares of OMNOVA Solutions Inc. (OMN)

Northern Trust Corp raised its stake in shares of OMNOVA Solutions Inc. (NYSE:OMN) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 705,492 shares of the specialty chemicals company’s stock after purchasing an additional 53,607 shares during the quarter. Northern Trust Corp owned approximately 1.57% of OMNOVA Solutions worth $6,878,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Acrospire Investment Management LLC grew its position in shares of OMNOVA Solutions by 2.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 13,632 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 288 shares during the period. Citigroup Inc. grew its position in shares of OMNOVA Solutions by 3.6% in the 2nd quarter. Citigroup Inc. now owns 27,344 shares of the specialty chemicals company’s stock worth $267,000 after buying an additional 954 shares during the period. American International Group Inc. grew its position in shares of OMNOVA Solutions by 7.1% in the 1st quarter. American International Group Inc. now owns 26,169 shares of the specialty chemicals company’s stock worth $259,000 after buying an additional 1,738 shares during the period. Bank of America Corp DE grew its position in shares of OMNOVA Solutions by 1.7% in the 1st quarter. Bank of America Corp DE now owns 123,988 shares of the specialty chemicals company’s stock worth $1,227,000 after buying an additional 2,073 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of OMNOVA Solutions by 8.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 32,133 shares of the specialty chemicals company’s stock worth $318,000 after buying an additional 2,611 shares during the period. 88.04% of the stock is currently owned by institutional investors and hedge funds.

OMN has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $12.00 price target on shares of OMNOVA Solutions in a research note on Thursday, October 12th. KeyCorp reiterated a “hold” rating on shares of OMNOVA Solutions in a research note on Friday, September 29th. ValuEngine upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Finally, BidaskClub upgraded shares of OMNOVA Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One equities research 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 company currently has a consensus rating of “Hold” and a consensus target price of $11.67.

OMNOVA Solutions Inc. (OMN) opened at $11.20 on Wednesday. OMNOVA Solutions Inc. has a one year low of $8.10 and a one year high of $11.60. The company has a quick ratio of 1.71, a current ratio of 2.38 and a debt-to-equity ratio of 2.78. The firm has a market cap of $502.51, a P/E ratio of 18.33, a PEG ratio of 1.79 and a beta of 2.22.

OMNOVA Solutions (NYSE:OMN) last issued its quarterly earnings data on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $203.12 million. During the same quarter in the prior year, the business earned $0.14 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. research analysts expect that OMNOVA Solutions Inc. will post 0.62 earnings per share for the current fiscal year.

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About OMNOVA Solutions

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.

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

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