Zacks Investment Research cut shares of Nexeo Solutions (NASDAQ:NXEO) from a hold rating to a sell rating in a report issued on Saturday 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. “

Several other research analysts also recently commented on NXEO. Jefferies Group LLC reaffirmed a hold rating and issued a $8.50 price target (down from $9.50) on shares of Nexeo Solutions in a research report on Thursday, August 10th. Credit Suisse Group dropped their price target on Nexeo Solutions from $10.00 to $8.50 and set a neutral rating on the stock in a research report on Friday, August 11th.

Shares of Nexeo Solutions (NASDAQ:NXEO) opened at 7.21 on Friday. The firm has a market cap of $643.22 million and a P/E ratio of 58.15. The stock’s 50 day moving average is $7.80 and its 200-day moving average is $8.61. Nexeo Solutions has a 52-week low of $6.74 and a 52-week high of $9.94.

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In other Nexeo Solutions news, major shareholder Select Maple Fund L.P. Fpa purchased 250,000 shares of the company’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $7.25 per share, with a total value of $1,812,500.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Park West Asset Management Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $8.65, for a total value of $865,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 492,190 shares of company stock worth $3,587,687 and sold 2,322,562 shares worth $18,992,522. Insiders own 0.07% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Nexeo Solutions by 4.2% during the second quarter. Vanguard Group Inc. now owns 1,814,769 shares of the basic materials company’s stock valued at $15,063,000 after purchasing an additional 73,726 shares during the period. Northern Trust Corp increased its position in shares of Nexeo Solutions by 181.9% during the second quarter. Northern Trust Corp now owns 352,317 shares of the basic materials company’s stock valued at $2,924,000 after purchasing an additional 227,351 shares during the period. Bank of New York Mellon Corp increased its position in shares of Nexeo Solutions by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 319,972 shares of the basic materials company’s stock valued at $2,656,000 after purchasing an additional 78,087 shares during the period. State Street Corp increased its position in shares of Nexeo Solutions by 497.3% during the second quarter. State Street Corp now owns 319,541 shares of the basic materials company’s stock valued at $2,650,000 after purchasing an additional 266,041 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Nexeo Solutions by 41.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 150,756 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 44,316 shares during the period. Institutional investors and hedge funds 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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