Lazard Asset Management LLC Trims Stock Position in DXP Enterprises, Inc. $DXPE

Lazard Asset Management LLC lessened its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 62.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,841 shares of the industrial products company’s stock after selling 3,018 shares during the period. Lazard Asset Management LLC’s holdings in DXP Enterprises were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DXPE. Danske Bank A S bought a new position in shares of DXP Enterprises in the fourth quarter worth $4,864,000. Diversify Wealth Management LLC purchased a new stake in shares of DXP Enterprises in the first quarter worth $1,226,000. B. Metzler seel. Sohn & Co. AG bought a new stake in DXP Enterprises during the fourth quarter valued at $1,591,000. Northwestern Mutual Wealth Management Co. boosted its stake in DXP Enterprises by 12,369,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock valued at $40,785,000 after buying an additional 371,073 shares during the period. Finally, Vanguard Group Inc. grew its position in DXP Enterprises by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company’s stock worth $105,877,000 after buying an additional 18,414 shares in the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DXPE has been the topic of a number of research analyst reports. Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday. Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings raised DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Zacks Research downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Stephens raised their target price on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, DXP Enterprises presently has an average rating of “Moderate Buy” and an average price target of $187.00.

Insiders Place Their Bets

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the sale, the director directly owned 30,000 shares in the company, valued at $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief marketing officer directly owned 590,262 shares in the company, valued at $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by corporate insiders.

DXP Enterprises Trading Down 3.0%

Shares of DXPE stock opened at $192.36 on Friday. The business has a 50-day moving average price of $164.98 and a two-hundred day moving average price of $152.16. DXP Enterprises, Inc. has a 12-month low of $84.04 and a 12-month high of $208.00. The company has a quick ratio of 2.56, a current ratio of 2.99 and a debt-to-equity ratio of 1.51. The firm has a market cap of $2.98 billion, a P/E ratio of 33.87 and a beta of 0.98.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.The firm had revenue of $576.46 million for the quarter, compared to analyst estimates of $543.00 million.

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.