OMNOVA Solutions (OMN) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of OMNOVA Solutions (NYSE:OMN) from a strong sell rating to a sell rating in a report released on Tuesday.

Shares of NYSE:OMN traded down $0.30 during midday trading on Tuesday, hitting $7.75. The company had a trading volume of 3,286 shares, compared to its average volume of 139,044. The company has a debt-to-equity ratio of 6.77, a current ratio of 2.07 and a quick ratio of 1.43. The firm has a market capitalization of $374.74 million, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.35 and a beta of 2.24. OMNOVA Solutions has a 12-month low of $7.36 and a 12-month high of $11.90.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data on Wednesday, September 26th. The specialty chemicals company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.04). The company had revenue of $193.60 million during the quarter, compared to analysts’ expectations of $198.48 million. OMNOVA Solutions had a positive return on equity of 56.32% and a negative net margin of 10.34%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities research analysts expect that OMNOVA Solutions will post 0.62 earnings per share for the current fiscal year.

OMNOVA Solutions announced that its board has approved a stock repurchase program on Wednesday, September 26th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Several large investors have recently bought and sold shares of the company. Strs Ohio increased its stake in shares of OMNOVA Solutions by 9.9% in the 2nd quarter. Strs Ohio now owns 75,700 shares of the specialty chemicals company’s stock worth $787,000 after purchasing an additional 6,800 shares in the last quarter. Trexquant Investment LP increased its stake in shares of OMNOVA Solutions by 56.9% in the 2nd quarter. Trexquant Investment LP now owns 22,023 shares of the specialty chemicals company’s stock worth $229,000 after purchasing an additional 7,990 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of OMNOVA Solutions by 63.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 21,500 shares of the specialty chemicals company’s stock worth $224,000 after purchasing an additional 8,349 shares in the last quarter. Synovus Financial Corp increased its stake in shares of OMNOVA Solutions by 6.4% in the 3rd quarter. Synovus Financial Corp now owns 157,953 shares of the specialty chemicals company’s stock worth $1,555,000 after purchasing an additional 9,458 shares in the last quarter. Finally, Winslow Asset Management Inc. increased its stake in shares of OMNOVA Solutions by 0.9% in the 2nd quarter. Winslow Asset Management Inc. now owns 1,062,425 shares of the specialty chemicals company’s stock worth $11,049,000 after purchasing an additional 9,617 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

OMNOVA Solutions Company 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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