Symphony Asset Management LLC Grows Stake in NEXEO SOLUTIONS (NXEO)
Symphony Asset Management LLC grew its stake in shares of NEXEO SOLUTIONS (NASDAQ:NXEO) by 4.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,346 shares of the basic materials company’s stock after acquiring an additional 815 shares during the period. Symphony Asset Management LLC’s holdings in NEXEO SOLUTIONS were worth $169,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of NEXEO SOLUTIONS by 32.3% during the 2nd 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 acquiring an additional 78,087 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of NEXEO SOLUTIONS by 41.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 150,756 shares of the basic materials company’s stock valued at $1,252,000 after acquiring an additional 44,316 shares during the period. Spark Investment Management LLC bought a new position in shares of NEXEO SOLUTIONS during the 2nd quarter valued at approximately $329,000. Steinberg Global Asset Management grew its position in shares of 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 valued at $230,000 after acquiring an additional 1,000 shares during the period. Finally, Rhumbline Advisers bought a new position in shares of NEXEO SOLUTIONS during the 2nd quarter valued at approximately $229,000. 94.07% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Park West Asset Management Llc sold 2,000,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $8.15, for a total transaction of $16,300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Select Fund Ii L.P. Fpa bought 18,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $7.13 per share, with a total value of $133,331.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 807,700 shares of company stock valued at $5,802,958 and sold 2,222,562 shares valued at $18,127,522. Corporate insiders own 0.07% of the company’s stock.
NEXEO SOLUTIONS (NASDAQ:NXEO) opened at 7.20 on Friday. The firm has a 50-day moving average of $7.46 and a 200 day moving average of $8.45. NEXEO SOLUTIONS has a one year low of $6.74 and a one year high of $9.94. The company has a market capitalization of $642.33 million and a P/E ratio of 58.06.
A number of research analysts have recently weighed in on the stock. Credit Suisse Group reduced their target price on shares of NEXEO SOLUTIONS from $10.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.50 price objective on shares of NEXEO SOLUTIONS in a report on Friday, June 16th. Finally, Zacks Investment Research raised shares of NEXEO SOLUTIONS from a “sell” rating to a “hold” rating in a report on Saturday.
NEXEO SOLUTIONS 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.
Receive News & Stock Ratings for NEXEO SOLUTIONS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NEXEO SOLUTIONS and related stocks with our FREE daily email newsletter.