Globeflex Capital L P lessened its stake in DXP Enterprises, Inc. (NASDAQ:DXPE – Free Report) by 17.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,716 shares of the industrial products company’s stock after selling 8,203 shares during the period. Globeflex Capital L P owned about 0.24% of DXP Enterprises worth $5,270,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in DXPE. Danske Bank A S acquired a new position in DXP Enterprises in the fourth quarter valued at approximately $4,864,000. SG Americas Securities LLC grew its position in shares of DXP Enterprises by 646.7% during the 4th quarter. SG Americas Securities LLC now owns 15,143 shares of the industrial products company’s stock worth $1,663,000 after buying an additional 13,115 shares during the period. Nordea Investment Management AB bought a new stake in shares of DXP Enterprises in the 4th quarter valued at $1,597,000. Diversify Wealth Management LLC bought a new stake in shares of DXP Enterprises in the 1st quarter valued at $1,226,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in shares of DXP Enterprises during the 4th quarter valued at $1,591,000. Institutional investors and hedge funds own 74.82% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on DXPE. Weiss Ratings cut shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, DXP Enterprises has a consensus rating of “Moderate Buy” and an average target price of $154.00.
DXP Enterprises Stock Performance
DXPE opened at $172.57 on Thursday. DXP Enterprises, Inc. has a 1-year low of $84.04 and a 1-year high of $183.91. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 32.26 and a beta of 0.97. The company’s fifty day moving average price is $159.66 and its two-hundred day moving average price is $147.73. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60.
DXP Enterprises (NASDAQ:DXPE – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.The company had revenue of $521.66 million for the quarter, compared to the consensus estimate of $531.00 million. On average, analysts expect that DXP Enterprises, Inc. will post 6.2 EPS for the current fiscal year.
Insider Transactions at DXP Enterprises
In other news, CMO Paz Maestas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the transaction, the chief marketing officer owned 590,262 shares in the company, valued at $97,021,364.94. The trade was a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy P. Halter sold 6,842 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total value of $968,758.78. Following the completion of the transaction, the director directly owned 30,000 shares of the company’s stock, valued at approximately $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 22.00% of the stock is owned by company insiders.
DXP Enterprises Company Profile
DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.
Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.
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