DXP Enterprises (NASDAQ:DXPE) Director Joseph Mannes Sells 1,500 Shares of Stock

DXP Enterprises, Inc. (NASDAQ:DXPE) Director Joseph Mannes sold 1,500 shares of DXP Enterprises stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the sale, the director owned 13,964 shares in the company, valued at approximately $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

DXP Enterprises Trading Up 1.8%

Shares of DXPE stock traded up $2.48 during trading on Tuesday, hitting $140.12. 122,098 shares of the stock traded hands, compared to its average volume of 115,824. The firm’s fifty day moving average price is $133.05 and its 200-day moving average price is $119.52. The company has a debt-to-equity ratio of 1.64, a current ratio of 3.34 and a quick ratio of 2.94. DXP Enterprises, Inc. has a 52-week low of $67.68 and a 52-week high of $171.70. The firm has a market capitalization of $2.17 billion, a P/E ratio of 25.40 and a beta of 0.96.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. The company had revenue of $527.39 million during the quarter, compared to the consensus estimate of $499.00 million. As a group, research analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DXPE. Weiss Ratings reiterated a “buy (b-)” rating on shares of DXP Enterprises in a report on Monday, December 29th. Wall Street Zen lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Loop Capital set a $154.00 target price on DXP Enterprises in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, DXP Enterprises currently has a consensus rating of “Buy” and an average target price of $154.00.

Hedge Funds Weigh In On DXP Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in DXPE. Royal Bank of Canada grew its position in DXP Enterprises by 29.4% during the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock worth $417,000 after buying an additional 1,153 shares in the last quarter. Millennium Management LLC increased its holdings in DXP Enterprises by 661.5% during the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after purchasing an additional 112,021 shares during the period. Jane Street Group LLC raised its stake in DXP Enterprises by 433.8% during the 1st quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock worth $4,850,000 after acquiring an additional 47,909 shares during the period. Envestnet Asset Management Inc. increased its position in shares of DXP Enterprises by 23.7% during the second quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company’s stock worth $1,871,000 after acquiring an additional 4,087 shares during the period. Finally, Savant Capital LLC grew its position in DXP Enterprises by 10.6% during the second quarter. Savant Capital LLC now owns 3,510 shares of the industrial products company’s stock valued at $308,000 after buying an additional 336 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Company 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.