Globeflex Capital L P Acquires Shares of 38,564 DXP Enterprises, Inc. $DXPE

Globeflex Capital L P acquired a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,564 shares of the industrial products company’s stock, valued at approximately $6,507,000. Globeflex Capital L P owned about 0.25% of DXP Enterprises at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. KBC Group NV purchased a new stake in shares of DXP Enterprises in the first quarter worth about $51,000. EverSource Wealth Advisors LLC grew its holdings in 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. Clearstead Advisors LLC raised its position in DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 306 shares in the last quarter. State of Wyoming acquired a new position in DXP Enterprises in the fourth quarter valued at approximately $152,000. Finally, Laurel Wealth Advisors LLC acquired a new position in DXP Enterprises in the fourth quarter valued at approximately $154,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Price Performance

DXPE opened at $190.28 on Monday. DXP Enterprises, Inc. has a twelve month low of $84.04 and a twelve month high of $208.00. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average price of $172.03 and a 200 day moving average price of $156.98. The company has a market cap of $2.95 billion, a PE ratio of 33.50 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DXPE shares. Weiss Ratings cut shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Stephens lifted their price target on DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Zacks Research cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Wall Street Zen raised DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Three investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

Insider Buying and Selling at DXP Enterprises

In other news, CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the transaction, the chief marketing officer 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 22.00% of the stock is currently owned by company insiders.

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.