Zebra Capital Management LLC Grows Stake in Nexeo Solutions Inc (NXEO)

Zebra Capital Management LLC increased its position in shares of Nexeo Solutions Inc (NASDAQ:NXEO) by 324.8% during the 2nd quarter, Holdings Channel reports. The fund owned 71,614 shares of the basic materials company’s stock after acquiring an additional 54,757 shares during the quarter. Zebra Capital Management LLC’s holdings in Nexeo Solutions were worth $654,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NXEO. C M Bidwell & Associates Ltd. acquired a new stake in shares of Nexeo Solutions during the first quarter worth about $109,000. RMB Capital Management LLC purchased a new stake in shares of Nexeo Solutions during the first quarter worth approximately $128,000. MetLife Investment Advisors LLC purchased a new position in Nexeo Solutions in the first quarter valued at approximately $145,000. Bowling Portfolio Management LLC purchased a new position in Nexeo Solutions in the second quarter valued at approximately $152,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Nexeo Solutions in the first quarter valued at approximately $158,000. 95.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NXEO stock opened at $10.00 on Monday. The company has a quick ratio of 1.41, a current ratio of 2.15 and a debt-to-equity ratio of 0.98. Nexeo Solutions Inc has a 12 month low of $6.92 and a 12 month high of $11.14. The company has a market capitalization of $900.03 million, a price-to-earnings ratio of 30.48, a PEG ratio of 0.72 and a beta of 0.41.

Nexeo Solutions (NASDAQ:NXEO) last announced its quarterly earnings data 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. Nexeo Solutions had a return on equity of 8.13% and a net margin of 1.45%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $994.50 million. equities research analysts forecast that Nexeo Solutions Inc will post 0.72 EPS for the current year.

Separately, Zacks Investment Research raised Nexeo Solutions from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Saturday, August 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $12.00.

Nexeo Solutions Company 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.

Further Reading: Technical Analysis of Stocks and What It Means

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

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