The stock last traded at $11.40 which is quite a bit above the 50 day moving average of $10.01 and which is well above the 200 day moving average of $9.37. The 50 day moving average went up by +13.85% whereas the 200 day moving average was up $2.03 or +21.70%. Trading volume for OMNOVA Solutions Inc. was 3,295 by the end of trading on Tuesday. Trading volume was down 97.24% under the stocks average daily volume.
Traders are more bullish on the company lately considering the fall in short interest. The firm experienced a fall in short interest from September 15, 2017 to September 29, 2017 of -10.91%. Short interest fell from 449,465 to 400,440 over that period. The days to cover decreased to 2.0 and the short interest percentage is 0.01% as of September 29.
These firms have modified their investment in OMN. Spark Investment Management LLC reduced its ownership by shedding 74,500 shares a decrease of 24.3%. Spark Investment Management LLC now controls 232,100 shares with a value of $2,262,000. The total value of its holdings decreased 25.5%. Ubs Group Ag cut its investment by selling 846 shares a decrease of 67.5% in the quarter. Ubs Group Ag owns 408 shares valued at $4,000. The value of the position overall is down by 66.7%.
Winslow Asset Management Inc downsized its position by selling 15,059 shares a decrease of 1.3% as of 09/30/2017. Winslow Asset Management Inc claims 1,100,423 shares worth $12,050,000. The value of the position overall is up by 10.8%. As of the end of the quarter Meeder Asset Management Inc had acquired a total of 557 shares growing its position 94.6%. The value of the total investment in OMNOVA Solutions Inc. went from $6,000 to $13,000 a change of 116.7% since the last quarter.
In the last earnings report the EPS was $-0.14 and is projected to be $0.60 for the current year with 44,867,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.06 with next year’s EPS projected to be $0.71.
OMNOVA Solutions Inc., launched on May 29, 1998, 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 primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries. The Engineered Surfaces segment develops, designs, produces and markets a line of functional and decorative surfacing products, including coated fabrics, vinyl, paper, and specialty laminates and industrial films. It operates production facilities in the United States, Europe and China..