Convergence Investment Partners LLC purchased a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 34,195 shares of the industrial products company’s stock, valued at approximately $1,180,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new position in DXP Enterprises during the first quarter valued at $8,108,000. Norges Bank purchased a new position in DXP Enterprises during the fourth quarter valued at $4,892,000. Hennessy Advisors Inc. purchased a new position in DXP Enterprises during the first quarter valued at $3,961,000. Dimensional Fund Advisors LP boosted its position in DXP Enterprises by 16.8% in the first quarter. Dimensional Fund Advisors LP now owns 719,426 shares of the industrial products company’s stock valued at $27,243,000 after buying an additional 103,298 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in DXP Enterprises by 15.6% in the first quarter. JPMorgan Chase & Co. now owns 551,083 shares of the industrial products company’s stock valued at $20,869,000 after buying an additional 74,262 shares during the last quarter. 73.84% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises, Inc. (NASDAQ DXPE) opened at 26.35 on Wednesday. The company has a market cap of $458.52 million, a PE ratio of 30.64 and a beta of 2.63. DXP Enterprises, Inc. has a 1-year low of $19.61 and a 1-year high of $42.00. The company has a 50-day moving average price of $31.77 and a 200-day moving average price of $34.77.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. DXP Enterprises had a return on equity of 6.15% and a net margin of 1.58%. The company had revenue of $250.69 million for the quarter, compared to analysts’ expectations of $246.15 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. DXP Enterprises’s revenue was down 2.2% compared to the same quarter last year. On average, analysts expect that DXP Enterprises, Inc. will post $0.78 EPS for the current fiscal year.

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DXPE has been the topic of several research analyst reports. BidaskClub raised shares of DXP Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Sidoti reaffirmed a “buy” rating and issued a $49.00 price target (up previously from $47.00) on shares of DXP Enterprises in a report on Wednesday, May 17th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of DXP Enterprises in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.50.

In other DXP Enterprises news, insider Kent Nee Hung Yee sold 4,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $37.63, for a total transaction of $150,520.00. Following the completion of the sale, the insider now owns 40,278 shares in the company, valued at $1,515,661.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David C. Vinson sold 3,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $39.12, for a total value of $117,360.00. Following the sale, the vice president now owns 6,681 shares of the company’s stock, valued at approximately $261,360.72. The disclosure for this sale can be found here. 9.60% of the stock is owned by corporate insiders.

About DXP Enterprises

DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.

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Institutional Ownership by Quarter for DXP Enterprises (NASDAQ:DXPE)

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