DXP Enterprises (NASDAQ:DXPE) Sees Strong Trading Volume – Here’s What Happened

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) saw unusually-strong trading volume on Monday . Approximately 108,287 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 134,438 shares.The stock last traded at $142.1750 and had previously closed at $143.34.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. Zacks Research raised shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Loop Capital set a $154.00 price target on DXP Enterprises in a research report on Monday, March 2nd. Finally, Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $154.00.

DXP Enterprises Trading Down 1.1%

The firm has a market cap of $2.20 billion, a P/E ratio of 26.30 and a beta of 0.96. The stock has a fifty day simple moving average of $140.10 and a 200 day simple moving average of $121.41. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.94 and a current ratio of 3.34.

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

Insider Activity

In other news, Director Joseph R. Mannes sold 1,500 shares of DXP Enterprises stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the sale, the director directly owned 13,964 shares in the company, valued at $1,926,333.80. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its stake in DXP Enterprises by 480.2% during the 4th quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock valued at $82,859,000 after buying an additional 624,638 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of DXP Enterprises by 12,369,100.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock worth $40,785,000 after buying an additional 371,073 shares during the last quarter. Wellington Management Group LLP grew 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 worth $133,867,000 after acquiring an additional 137,577 shares during the period. Millennium Management LLC grew its holdings in shares of DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after acquiring an additional 112,021 shares during the period. Finally, Invesco Ltd. increased its position in DXP Enterprises by 41.6% during the third quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock valued at $29,862,000 after acquiring an additional 73,653 shares during the last quarter. Institutional investors own 74.82% of the company’s stock.

About DXP Enterprises

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.