Robotti Robert Lowers stake in OMNOVA Solutions (OMN)

OMNOVA Solutions (OMN) : Robotti Robert reduced its stake in OMNOVA Solutions by 9.82% during the most recent quarter end. The investment management company now holds a total of 1,122,464 shares of OMNOVA Solutions which is valued at $10,281,770 after selling 122,250 shares in OMNOVA Solutions , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.OMNOVA Solutions makes up approximately 3.49% of Robotti Robert’s portfolio.

Other Hedge Funds, Including , Teachers Advisors Inc reduced its stake in OMN by selling 683 shares or 0.89% in the most recent quarter. The Hedge Fund company now holds 76,469 shares of OMN which is valued at $700,456.Blackrock Group Ltd boosted its stake in OMN in the latest quarter, The investment management firm added 36,553 additional shares and now holds a total of 47,757 shares of OMNOVA Solutions which is valued at $437,454.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.Teacher Retirement System Of Texas boosted its stake in OMN in the latest quarter, The investment management firm added 317 additional shares and now holds a total of 5,957 shares of OMNOVA Solutions which is valued at $55,102.

OMNOVA Solutions closed down -0.09 points or -0.94% at $9.51 with 1,65,161 shares getting traded on Tuesday. Post opening the session at $9.66, the shares hit an intraday low of $9.4923 and an intraday high of $9.7 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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