DXP Enterprises, Inc. $DXPE Stock Holdings Cut by Wasatch Advisors LP

Wasatch Advisors LP cut its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 29.7% during the 2nd quarter, Holdings Channel reports. The firm owned 445,575 shares of the industrial products company’s stock after selling 188,066 shares during the period. Wasatch Advisors LP’s holdings in DXP Enterprises were worth $75,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DXPE. Wellington Management Group LLP lifted its holdings in shares of DXP Enterprises by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock valued at $133,867,000 after buying an additional 137,577 shares during the period. Vanguard Group Inc. grew its holdings 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 acquiring an additional 18,414 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings 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 worth $40,785,000 after acquiring an additional 371,073 shares during the period. Geode Capital Management LLC raised its position in DXP Enterprises by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company’s stock worth $36,895,000 after acquiring an additional 9,767 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in DXP Enterprises by 0.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 271,079 shares of the industrial products company’s stock worth $32,278,000 after acquiring an additional 2,359 shares in the last quarter. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Trading Up 1.2%

NASDAQ DXPE opened at $195.00 on Wednesday. DXP Enterprises, Inc. has a twelve month low of $84.04 and a twelve month high of $208.00. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 34.33 and a beta of 0.98. The firm’s 50 day moving average price is $166.77 and its two-hundred day moving average price is $153.32.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stephens raised their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday. Weiss Ratings raised shares of DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Freedom Capital cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Insiders Place Their Bets

In related news, CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $141.59, for a total value of $968,758.78. Following the completion of the sale, the director directly owned 30,000 shares of the company’s stock, valued at approximately $4,247,700. This represents a 18.57% 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 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.