NEXEO SOLUTIONS (NASDAQ:NXEO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.

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. “

A number of other equities research analysts also recently commented on NXEO. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.50 target price (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 research report on Friday, August 11th.

Shares of NEXEO SOLUTIONS (NASDAQ:NXEO) traded down 1.39% during trading on Friday, reaching $7.07. The company’s stock had a trading volume of 137,619 shares. The stock has a market capitalization of $630.73 million and a PE ratio of 57.02. The firm’s 50-day moving average is $7.64 and its 200-day moving average is $8.54. NEXEO SOLUTIONS has a 12-month low of $6.74 and a 12-month high of $9.94.

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In related news, major shareholder Park West Asset Management Llc sold 204,766 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $8.19, for a total value of $1,677,033.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Select Maple Fund L.P. Fpa acquired 162,190 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average price of $7.30 per share, for a total transaction of $1,183,987.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 746,000 shares of company stock worth $5,364,757 and have sold 2,322,562 shares worth $18,992,522. Insiders own 0.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Symphony Asset Management LLC increased its holdings in NEXEO SOLUTIONS by 4.2% during the 2nd quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 815 shares during the period. Steinberg Global Asset Management increased its holdings in NEXEO SOLUTIONS by 3.7% during the 2nd quarter. Steinberg Global Asset Management now owns 27,699 shares of the basic materials company’s stock worth $230,000 after purchasing an additional 1,000 shares during the period. Wittenberg Investment Management Inc. increased its holdings in NEXEO SOLUTIONS by 2.8% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 73,511 shares of the basic materials company’s stock worth $610,000 after purchasing an additional 2,002 shares during the period. Voya Investment Management LLC purchased a new stake in NEXEO SOLUTIONS during the 2nd quarter worth about $106,000. Finally, Nationwide Fund Advisors purchased a new stake in NEXEO SOLUTIONS during the 2nd quarter worth about $121,000. Institutional investors own 94.07% of the company’s stock.

NEXEO SOLUTIONS Company Profile

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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