Steinberg Global Asset Management Has $230,000 Position in Nexeo Solutions (NASDAQ:NXEO)

Steinberg Global Asset Management increased its stake in Nexeo Solutions (NASDAQ:NXEO) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,699 shares of the basic materials company’s stock after buying an additional 1,000 shares during the period. Steinberg Global Asset Management’s holdings in Nexeo Solutions were worth $230,000 as of its most recent filing with the SEC.

Nexeo Solutions (NXEO) opened at 7.35 on Friday. Nexeo Solutions has a 52-week low of $6.74 and a 52-week high of $9.94. The firm’s 50-day moving average price is $8.05 and its 200-day moving average price is $8.76. The firm has a market cap of $655.71 million and a P/E ratio of 59.27.

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Several brokerages recently issued reports on NXEO. Jefferies Group LLC reiterated a “hold” rating and issued a $8.50 price objective (down from $9.50) on shares of Nexeo Solutions in a research report on Thursday, August 10th. Credit Suisse Group decreased their price objective 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. Finally, Zacks Investment Research lowered Nexeo Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th.

In other Nexeo Solutions news, major shareholder Park West Asset Management Llc sold 7,796 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $8.49, for a total value of $66,188.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Bradley acquired 80,000 shares of Nexeo Solutions stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $7.39 per share, with a total value of $591,200.00. Following the purchase, the insider now directly owns 135,000 shares of the company’s stock, valued at approximately $997,650. The disclosure for this purchase can be found here. Insiders sold 2,322,562 shares of company stock valued at $18,992,522 in the last three months. Insiders own 0.07% 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.

Institutional Ownership by Quarter for Nexeo Solutions (NASDAQ:NXEO)

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