DXP Enterprises (NASDAQ:DXPE) CMO Paz Maestas Sells 10,000 Shares of Stock

DXP Enterprises, Inc. (NASDAQ:DXPEGet Free Report) CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $167.44 on Friday. The business’s 50 day simple moving average is $154.44 and its 200 day simple moving average is $135.28. DXP Enterprises, Inc. has a one year low of $75.58 and a one year high of $183.91. The stock has a market capitalization of $2.60 billion, a PE ratio of 31.30 and a beta of 0.99. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.98 and a quick ratio of 2.56.

DXP Enterprises (NASDAQ:DXPEGet Free Report) last announced its earnings results on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.12). DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. The company had revenue of $521.66 million during the quarter, compared to the consensus estimate of $531.00 million. As a group, research analysts forecast that DXP Enterprises, Inc. will post 6.2 earnings per share for the current year.

Hedge Funds Weigh In On DXP Enterprises

A number of institutional investors have recently modified their holdings of DXPE. Royal Bank of Canada raised its position in shares of DXP Enterprises by 29.4% during the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 1,153 shares during the period. Millennium Management LLC raised its position in shares of DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 112,021 shares during the period. Jane Street Group LLC raised its position in shares of DXP Enterprises by 433.8% during the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock worth $4,850,000 after purchasing an additional 47,909 shares during the period. JPMorgan Chase & Co. raised its position in shares of DXP Enterprises by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company’s stock worth $5,874,000 after purchasing an additional 5,820 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of DXP Enterprises by 19.3% during the second quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 761 shares during the period. 74.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of DXP Enterprises in a research note on Friday, May 22nd. Loop Capital set a $154.00 price target on DXP Enterprises in a research note on Monday, March 2nd. Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Check Out Our Latest Stock Report on DXPE

About DXP Enterprises

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for DXP Enterprises (NASDAQ:DXPE)

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