Zacks Investment Research upgraded shares of NEXEO SOLUTIONS (NASDAQ:NXEO) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Nexeo Solutions, Inc. distributes chemicals and plastics products. The company’s line of business consists of Chemicals, Plastics and Environmental Services. It operates primarily in North America, Europe, the Middle East and Africa and Asia. Nexeo Solutions, Inc. is based in The Woodlands, Texas. “
Other research analysts also recently issued research reports about the company. Jefferies Group LLC reissued a hold rating and issued a $8.50 price target (down previously from $9.50) on shares of NEXEO SOLUTIONS in a report on Thursday, August 10th. Credit Suisse Group reduced their price target on NEXEO SOLUTIONS from $10.00 to $8.50 and set a neutral rating for the company in a report on Friday, August 11th.
Shares of NEXEO SOLUTIONS (NASDAQ NXEO) traded down 0.52% during midday trading on Wednesday, hitting $7.58. The stock had a trading volume of 222,857 shares. The company has a market cap of $676.23 million and a P/E ratio of 61.13. The stock has a 50 day moving average of $7.25 and a 200-day moving average of $8.26. NEXEO SOLUTIONS has a one year low of $6.74 and a one year high of $9.94.
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In other NEXEO SOLUTIONS news, major shareholder Park West Asset Management Llc sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $8.43, for a total transaction of $84,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Bradley acquired 80,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $7.39 per share, for a total transaction of $591,200.00. Following the purchase, the insider now directly owns 135,000 shares of the company’s stock, valued at $997,650. The disclosure for this purchase can be found here. In the last three months, insiders purchased 807,700 shares of company stock valued at $5,802,958 and sold 2,017,796 shares valued at $16,450,488. Corporate insiders own 0.07% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Steinberg Global Asset Management raised its stake in NEXEO SOLUTIONS by 3.7% during the second quarter. Steinberg Global Asset Management now owns 27,699 shares of the basic materials company’s stock valued at $230,000 after buying an additional 1,000 shares in the last quarter. Spark Investment Management LLC acquired a new stake in NEXEO SOLUTIONS during the second quarter valued at approximately $329,000. Trexquant Investment LP acquired a new stake in NEXEO SOLUTIONS during the second quarter valued at approximately $213,000. Symphony Asset Management LLC raised its stake in NEXEO SOLUTIONS by 4.2% during the second quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock valued at $169,000 after buying an additional 815 shares in the last quarter. Finally, Wittenberg Investment Management Inc. raised its stake in NEXEO SOLUTIONS by 2.8% during the second quarter. Wittenberg Investment Management Inc. now owns 73,511 shares of the basic materials company’s stock valued at $610,000 after buying an additional 2,002 shares in the last quarter. Hedge funds and other institutional investors own 94.07% of the company’s stock.
About NEXEO SOLUTIONS
Nexeo Solutions Inc, formerly WL Ross Holding Corp., is global distributor of chemicals products in North America and Asia, and plastics products in North America, Europe, the Middle East and Africa (EMEA) and Asia. The Company provides services, such as custom blending, packaging and re-packaging, private-label manufacturing and product testing in the form of chemical analysis, product performance analysis and product development.
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