Millennium Management LLC grew its stake in Nexeo Solutions Inc (NASDAQ:NXEO) by 4.2% during the second quarter, HoldingsChannel reports. The firm owned 708,639 shares of the basic materials company’s stock after purchasing an additional 28,296 shares during the period. Millennium Management LLC’s holdings in Nexeo Solutions were worth $6,470,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. RMB Capital Management LLC bought a new position in shares of Nexeo Solutions in the first quarter valued at approximately $128,000. MetLife Investment Advisors LLC bought a new position in shares of Nexeo Solutions in the first quarter valued at approximately $145,000. Cubist Systematic Strategies LLC bought a new position in shares of Nexeo Solutions in the first quarter valued at approximately $158,000. Bowling Portfolio Management LLC bought a new position in shares of Nexeo Solutions in the second quarter valued at approximately $152,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Nexeo Solutions in the second quarter valued at approximately $175,000. Institutional investors own 93.73% of the company’s stock.
A number of research firms have recently weighed in on NXEO. Zacks Investment Research upgraded Nexeo Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. SunTrust Banks lowered Nexeo Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.00.
Shares of Nexeo Solutions stock opened at $11.32 on Friday. The firm has a market cap of $1.10 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 0.86 and a beta of 0.16. Nexeo Solutions Inc has a 12 month low of $7.17 and a 12 month high of $12.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.41 and a current ratio of 2.15.
Nexeo Solutions (NASDAQ:NXEO) last issued its quarterly earnings results on Monday, August 6th. The basic materials company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.12. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $994.50 million. Nexeo Solutions had a return on equity of 8.13% and a net margin of 1.45%. Research analysts anticipate that Nexeo Solutions Inc will post 0.72 EPS for the current year.
Nexeo Solutions Profile
Nexeo Solutions, Inc operates as a chemical and plastic products distributor in North America, Europe, the Middle East, Africa, and Asia. The company operates through Chemicals, Plastics, and Environmental Services segments. It provides approximately 22,000 products used in various industries, including household, industrial and institutional, lubricants, architectural coatings, adhesives, sealants, elastomers, automotive, healthcare, personal care, oil and gas, and construction.
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