Barington Capital Group buys $8,838,708 stake in OMNOVA Solutions (OMN)

OMNOVA Solutions (OMN) : Barington Capital Group scooped up 38,313 additional shares in OMNOVA Solutions during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,010,138 shares of OMNOVA Solutions which is valued at $8,838,708.OMNOVA Solutions makes up approximately 7.00% of Barington Capital Group’s portfolio.

Other Hedge Funds, Including , Glenmede Trust Co Na added OMN to its portfolio by purchasing 111 company shares during the most recent quarter which is valued at $971.California State Teachers Retirement System boosted its stake in OMN in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 89,687 shares of OMNOVA Solutions which is valued at $695,074. Teacher Retirement System Of Texas sold out all of its stake in OMN during the most recent quarter. The investment firm sold 5,957 shares of OMN which is valued $43,188.Campbell Co Investment Adviser reduced its stake in OMN by selling 10,338 shares or 45.57% in the most recent quarter. The Hedge Fund company now holds 12,348 shares of OMN which is valued at $88,288. OMNOVA Solutions makes up approx 0.25% of Campbell Co Investment Adviser’s portfolio.

OMNOVA Solutions opened for trading at $9 and hit $9.2 on the upside on Monday, eventually ending the session at $9.2, with a gain of 2.22% or 0.2 points. The heightened volatility saw the trading volume jump to 1,39,797 shares. Company has a market cap of $415 M.

On the company’s financial health, OMNOVA Solutions reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Sep 22, 2016. Analyst had a consensus of $0.17. The company had revenue of $195.60 million for the quarter, compared to analysts expectations of $195.10 million. The company’s revenue was down -7.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

OMNOVA Solutions Inc. (OMNOVA) is a provider of emulsion polymers specialty chemicals and engineered surfaces for commercial industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene (SB) styrene butadiene acrylonitrile (SBA) styrene butadiene vinyl pyridine nitrile butadiene (NBR) polyvinyl acetate acrylic styrene acrylic vinyl acrylic glyoxal fluorochemicals and bio-based chemistries. The Engineered Surfaces segment develops designs produces and markets a line of functional and decorative surfacing products including coated fabrics laminates and industrial films. The Company sells its products directly to manufacturers. The Company has manufacturing facilities located in the United States France China India and Thailand.

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