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.
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.
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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