Acrospire Investment Management buys $406,565 stake in OMNOVA Solutions (OMN)

OMNOVA Solutions (OMN) : Acrospire Investment Management scooped up 29,223 additional shares in OMNOVA Solutions during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 43,953 shares of OMNOVA Solutions which is valued at $406,565.OMNOVA Solutions makes up approximately 0.29% of Acrospire Investment Management’s portfolio.

Other Hedge Funds, Including , Winslow Asset Management Inc reduced its stake in OMN by selling 13,760 shares or 1.17% in the most recent quarter. The Hedge Fund company now holds 1,158,716 shares of OMN which is valued at $10,718,123. OMNOVA Solutions makes up approx 2.28% of Winslow Asset Management Inc’s portfolio.Strs Ohio reduced its stake in OMN by selling 15,700 shares or 14.03% in the most recent quarter. The Hedge Fund company now holds 96,200 shares of OMN which is valued at $937,950. Nordea Investment Management Ab added OMN to its portfolio by purchasing 148,500 company shares during the most recent quarter which is valued at $1,459,755.

OMNOVA Solutions closed down -0.2 points or -2.15% at $9.1 with 1,47,649 shares getting traded on Wednesday. Post opening the session at $9.24, the shares hit an intraday low of $9.02 and an intraday high of $9.27 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, OMNOVA Solutions reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $0.14. The company had revenue of $202.00 million for the quarter, compared to analysts expectations of $205.40 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.11 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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