California State Teachers Retirement System Invests $386,000 in Nexeo Solutions (NXEO) Stock
California State Teachers Retirement System bought a new position in shares of Nexeo Solutions (NASDAQ:NXEO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 46,500 shares of the basic materials company’s stock, valued at approximately $386,000. California State Teachers Retirement System owned approximately 0.06% of Nexeo Solutions at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Voya Investment Management LLC acquired a new position in Nexeo Solutions during the second quarter worth about $106,000. Nationwide Fund Advisors acquired a new position in Nexeo Solutions during the second quarter worth about $121,000. Symphony Asset Management LLC raised its stake in Nexeo Solutions by 4.2% during the second quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock worth $169,000 after acquiring an additional 815 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Nexeo Solutions during the second quarter worth about $174,000. Finally, Trexquant Investment LP acquired a new position in Nexeo Solutions during the second quarter worth about $213,000. 95.45% of the stock is owned by hedge funds and other institutional investors.
In other news, major shareholder Select Fund Ii L.P. Fpa acquired 18,700 shares of the stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $7.13 per share, with a total value of $133,331.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.
Nexeo Solutions (NASDAQ:NXEO) last released its quarterly earnings data on Wednesday, December 6th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.02. Nexeo Solutions had a return on equity of 20.02% and a net margin of 0.40%. The company had revenue of $981.70 million during the quarter, compared to the consensus estimate of $881.70 million. analysts expect that Nexeo Solutions will post 0.71 EPS for the current fiscal year.
Several research analysts have commented on NXEO shares. ValuEngine raised Nexeo Solutions from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. SunTrust Banks reissued a “buy” rating and set a $11.00 target price on shares of Nexeo Solutions in a research note on Friday, November 10th. Zacks Investment Research raised Nexeo Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, Jefferies Group reissued a “hold” rating and set a $8.50 target price on shares of Nexeo Solutions in a research note on Friday, September 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $9.33.
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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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