SummerHaven Investment Management LLC Purchases 142 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

SummerHaven Investment Management LLC raised its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,413 shares of the industrial products company’s stock after acquiring an additional 142 shares during the quarter. DXP Enterprises makes up about 1.0% of SummerHaven Investment Management LLC’s holdings, making the stock its 4th largest holding. SummerHaven Investment Management LLC owned 0.11% of DXP Enterprises worth $1,432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in DXP Enterprises during the 4th quarter valued at about $67,901,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of DXP Enterprises by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock valued at $59,513,000 after purchasing an additional 38,900 shares during the last quarter. Northern Trust Corp increased its holdings in shares of DXP Enterprises by 10.2% in the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company’s stock valued at $18,915,000 after purchasing an additional 21,220 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in DXP Enterprises by 2,589.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company’s stock worth $12,339,000 after buying an additional 143,795 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in DXP Enterprises by 26.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company’s stock worth $10,244,000 after buying an additional 25,942 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Stephens lifted their target price on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Trading Down 0.4%

DXPE opened at $80.21 on Thursday. The stock has a market capitalization of $1.26 billion, a PE ratio of 20.67 and a beta of 1.17. DXP Enterprises, Inc. has a one year low of $43.25 and a one year high of $107.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The business’s 50 day moving average price is $83.51 and its 200 day moving average price is $86.27.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. The company had revenue of $476.57 million for the quarter, compared to the consensus estimate of $477.00 million. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. As a group, equities research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insiders Place Their Bets

In other DXP Enterprises news, CMO Paz Maestas sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $87.00, for a total transaction of $261,000.00. Following the completion of the sale, the chief marketing officer now directly owns 610,737 shares of the company’s stock, valued at $53,134,119. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David R. Little acquired 5,999 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average price of $82.70 per share, for a total transaction of $496,117.30. Following the completion of the transaction, the chief executive officer now owns 1,257,593 shares in the company, valued at $104,002,941.10. The trade was a 0.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 15,785 shares of company stock worth $1,400,818 over the last three months. Company insiders own 22.40% of the company’s stock.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).