Renaissance Technologies LLC Trims Position in DXP Enterprises, Inc. $DXPE

Renaissance Technologies LLC decreased its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,109 shares of the industrial products company’s stock after selling 6,100 shares during the quarter. Renaissance Technologies LLC’s holdings in DXP Enterprises were worth $6,303,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in shares of DXP Enterprises by 3,507.7% during the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 456 shares during the period. KBC Group NV purchased a new stake in shares of DXP Enterprises in the first quarter valued at approximately $51,000. Clearstead Advisors LLC grew its stake in DXP Enterprises by 164.5% in the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 306 shares in the last quarter. State of Wyoming bought a new position in DXP Enterprises in the fourth quarter worth approximately $152,000. Finally, Laurel Wealth Advisors LLC purchased a new position in DXP Enterprises during the 4th quarter worth $154,000. 74.82% of the stock is currently owned by institutional investors.

Insider Activity at DXP Enterprises

In related news, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction that occurred on 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 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 legal filing with the SEC, which is available at this link. Also, CMO Paz Maestas sold 10,000 shares of the firm’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 transaction of $1,643,700.00. Following the completion of the sale, the chief marketing officer owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 22.00% of the company’s stock.

DXP Enterprises Stock Up 4.8%

DXP Enterprises stock opened at $170.98 on Wednesday. The company has a quick ratio of 2.56, a current ratio of 2.98 and a debt-to-equity ratio of 1.60. The firm has a market cap of $2.65 billion, a P/E ratio of 31.96 and a beta of 0.98. The business has a fifty day moving average of $162.68 and a two-hundred day moving average of $151.02. DXP Enterprises, Inc. has a twelve month low of $84.04 and a twelve month high of $183.91.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results 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). The firm had revenue of $521.66 million during the quarter, compared to the consensus estimate of $531.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%. On average, analysts forecast that DXP Enterprises, Inc. will post 6.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on DXPE. Weiss Ratings cut DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Zacks Research downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Freedom Capital downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

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.