Dimensional Fund Advisors LP reduced its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE – Free Report) by 16.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 636,997 shares of the industrial products company’s stock after selling 121,336 shares during the quarter. Dimensional Fund Advisors LP’s holdings in DXP Enterprises were worth $89,004,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in DXP Enterprises by 29.4% during the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 1,153 shares during the period. Millennium Management LLC boosted its stake in shares of DXP Enterprises by 661.5% during the 1st 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 boosted its position in DXP Enterprises by 433.8% in the 1st quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock valued at $4,850,000 after buying an additional 47,909 shares during the period. JPMorgan Chase & Co. boosted its stake 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 valued at $5,874,000 after purchasing an additional 5,820 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in DXP Enterprises by 19.3% in 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 last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
DXPE has been the topic of several recent research reports. Weiss Ratings lowered shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.
DXP Enterprises Trading Down 7.5%
Shares of DXPE stock opened at $148.18 on Thursday. The company has a quick ratio of 2.56, a current ratio of 2.98 and a debt-to-equity ratio of 1.60. DXP Enterprises, Inc. has a fifty-two week low of $84.04 and a fifty-two week high of $183.91. The stock has a market capitalization of $2.30 billion, a P/E ratio of 27.70 and a beta of 0.97. The stock has a 50-day simple moving average of $161.36 and a 200 day simple moving average of $149.70.
DXP Enterprises (NASDAQ:DXPE – Get Free Report) last released its earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.12). The firm had revenue of $521.66 million during the quarter, compared to analysts’ expectations of $531.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%. On average, sell-side analysts expect that DXP Enterprises, Inc. will post 6.2 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction dated 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 owned 30,000 shares of the company’s stock, valued at $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the sale, the chief marketing officer directly owned 590,262 shares in the company, valued at $97,021,364.94. This represents a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 22.00% of the company’s stock.
About DXP Enterprises
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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