OMNOVA Solutions Inc. (NYSE:OMN) Short Interest Update

OMNOVA Solutions Inc. (NYSE:OMN) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 311,300 shares, a drop of 17.0% from the June 30th total of 374,900 shares. Based on an average trading volume of 686,500 shares, the short-interest ratio is presently 0.5 days. Currently, 0.7% of the company’s shares are sold short.

OMNOVA Solutions stock traded up $0.01 during mid-day trading on Thursday, hitting $10.04. The stock had a trading volume of 266,700 shares, compared to its average volume of 387,516. The stock has a 50-day simple moving average of $9.55 and a two-hundred day simple moving average of $7.81. The stock has a market capitalization of $449.79 million, a PE ratio of 15.94, a P/E/G ratio of 1.91 and a beta of 2.21. OMNOVA Solutions has a 12 month low of $5.48 and a 12 month high of $10.70. The company has a current ratio of 1.89, a quick ratio of 1.26 and a debt-to-equity ratio of 5.36.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings results on Wednesday, July 3rd. The specialty chemicals company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.10). OMNOVA Solutions had a net margin of 0.79% and a return on equity of 33.50%. The firm had revenue of $205.70 million during the quarter, compared to the consensus estimate of $210.55 million. During the same quarter in the prior year, the business earned $0.20 EPS. OMNOVA Solutions’s revenue was down .3% on a year-over-year basis. Sell-side analysts expect that OMNOVA Solutions will post 0.52 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the company. Zacks Investment Research cut OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Deutsche Bank cut OMNOVA Solutions from a “buy” rating to a “hold” rating and set a $9.91 price target on the stock. in a report on Friday, July 5th. Sidoti cut OMNOVA Solutions from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Wednesday, July 3rd. Finally, ValuEngine cut OMNOVA Solutions from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. OMNOVA Solutions presently has a consensus rating of “Hold” and an average price target of $9.96.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in OMNOVA Solutions by 2.3% during the second quarter. BlackRock Inc. now owns 3,343,207 shares of the specialty chemicals company’s stock worth $20,828,000 after buying an additional 74,647 shares during the last quarter. Vanguard Group Inc. boosted its holdings in OMNOVA Solutions by 11.0% during the second quarter. Vanguard Group Inc. now owns 2,611,869 shares of the specialty chemicals company’s stock worth $16,272,000 after buying an additional 258,020 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in OMNOVA Solutions by 1.9% during the second quarter. Renaissance Technologies LLC now owns 2,013,021 shares of the specialty chemicals company’s stock worth $12,541,000 after buying an additional 37,600 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in OMNOVA Solutions by 4.0% during the second quarter. Gamco Investors INC. ET AL now owns 1,166,210 shares of the specialty chemicals company’s stock worth $7,265,000 after buying an additional 45,200 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in OMNOVA Solutions by 6,216.9% during the fourth quarter. Bank of America Corp DE now owns 943,177 shares of the specialty chemicals company’s stock worth $6,914,000 after buying an additional 928,246 shares during the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.

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.

Read More: How to find the components of the quick ratio

Receive News & Ratings for OMNOVA Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OMNOVA Solutions and related companies with MarketBeat.com's FREE daily email newsletter.