DXP Enterprises, Inc. $DXPE Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 9.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 50,239 shares of the industrial products company’s stock after selling 5,000 shares during the period. Hennessy Advisors Inc.’s holdings in DXP Enterprises were worth $9,104,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in DXPE. Bank of New York Mellon Corp acquired a new position in DXP Enterprises in the second quarter worth about $13,566,000. First Trust Advisors LP boosted its holdings in DXP Enterprises by 1.1% during the first quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock valued at $9,590,000 after purchasing an additional 756 shares in the last quarter. Congress Asset Management Co. boosted its holdings in DXP Enterprises by 21.7% during the third quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock valued at $11,600,000 after purchasing an additional 11,423 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of DXP Enterprises in the 2nd quarter valued at approximately $6,507,000. Finally, SummerHaven Investment Management LLC grew its stake in shares of DXP Enterprises by 110.6% in the 3rd quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company’s stock valued at $3,130,000 after purchasing an additional 9,070 shares during the period. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DXPE has been the topic of several recent analyst reports. Weiss Ratings lowered DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Stephens increased their price objective on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $187.00.

DXP Enterprises Price Performance

Shares of DXPE stock opened at $174.46 on Monday. DXP Enterprises, Inc. has a 1 year low of $84.04 and a 1 year high of $208.00. The firm’s 50 day moving average is $182.21 and its 200-day moving average is $161.03. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 30.71 and a beta of 1.04. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51.

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

DXP Enterprises Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.