Vertex, Inc. $VERX Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Vertex, Inc. (NASDAQ:VERX) by 44.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 892,949 shares of the company’s stock after buying an additional 275,520 shares during the period. Principal Financial Group Inc. owned about 0.56% of Vertex worth $22,136,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of VERX. Raymond James Financial Inc. acquired a new position in Vertex in the second quarter valued at approximately $54,000. Blue Trust Inc. boosted its position in Vertex by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after purchasing an additional 512 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after acquiring an additional 395 shares during the period. Osaic Holdings Inc. grew its position in shares of Vertex by 108.8% during the second quarter. Osaic Holdings Inc. now owns 5,781 shares of the company’s stock worth $204,000 after acquiring an additional 3,012 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Vertex by 17.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,643 shares of the company’s stock valued at $235,000 after purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Vertex in a research note on Wednesday, January 21st. Needham & Company LLC lowered their target price on Vertex from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. JMP Securities set a $37.00 price target on Vertex in a research report on Tuesday, November 4th. Stifel Nicolaus lowered their price target on Vertex from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Finally, UBS Group restated a “market outperform” rating on shares of Vertex in a research note on Tuesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.60.

Vertex Price Performance

Shares of Vertex stock opened at $15.73 on Friday. Vertex, Inc. has a 52 week low of $14.78 and a 52 week high of $58.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.51 billion, a PE ratio of -44.94, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company’s 50-day moving average price is $19.33 and its two-hundred day moving average price is $22.94.

Vertex declared that its board has initiated a stock buyback plan on Monday, November 3rd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Vertex Company Profile

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.