American Century Companies Inc. lowered its holdings in OMNOVA Solutions Inc. (NYSE:OMN) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,605 shares of the specialty chemicals company’s stock after selling 36,590 shares during the period. American Century Companies Inc. owned approximately 0.40% of OMNOVA Solutions worth $1,331,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of OMNOVA Solutions by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 511,232 shares of the specialty chemicals company’s stock valued at $3,747,000 after acquiring an additional 80,678 shares during the period. Nordea Investment Management AB boosted its position in shares of OMNOVA Solutions by 0.8% in the fourth quarter. Nordea Investment Management AB now owns 194,286 shares of the specialty chemicals company’s stock valued at $1,424,000 after acquiring an additional 1,600 shares during the period. Millennium Management LLC boosted its position in shares of OMNOVA Solutions by 7.3% in the fourth quarter. Millennium Management LLC now owns 166,537 shares of the specialty chemicals company’s stock valued at $1,221,000 after acquiring an additional 11,390 shares during the period. Legal & General Group Plc boosted its position in shares of OMNOVA Solutions by 40.9% in the fourth quarter. Legal & General Group Plc now owns 8,760 shares of the specialty chemicals company’s stock valued at $64,000 after acquiring an additional 2,541 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of OMNOVA Solutions by 2.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 567,875 shares of the specialty chemicals company’s stock valued at $4,163,000 after acquiring an additional 11,079 shares during the period. 91.73% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. TheStreet raised shares of OMNOVA Solutions from a “d+” rating to a “c+” rating in a research note on Thursday, February 7th.
OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The business had revenue of $168.90 million for the quarter, compared to analysts’ expectations of $185.00 million. OMNOVA Solutions had a return on equity of 41.90% and a net margin of 1.16%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. On average, equities analysts anticipate that OMNOVA Solutions Inc. will post 0.63 earnings per share for the current year.
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OMNOVA Solutions Company Profile
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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