DXP Enterprises (NASDAQ:DXPE) Sets New 52-Week High – Here’s Why

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $116.32 and last traded at $115.43, with a volume of 237644 shares. The stock had previously closed at $110.01.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, May 16th.

DXP Enterprises Price Performance

The stock has a 50 day moving average of $95.26 and a two-hundred day moving average of $90.16. The stock has a market cap of $1.88 billion, a PE ratio of 22.86 and a beta of 1.25. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.04. The firm had revenue of $498.68 million for the quarter, compared to analysts’ expectations of $499.00 million. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%. Equities analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insiders Place Their Bets

In other DXP Enterprises news, COO Nicholas Little sold 45,938 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following the completion of the sale, the chief operating officer directly owned 812,328 shares in the company, valued at approximately $71,265,535.44. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher T. Gregory sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the sale, the insider owned 24,436 shares of the company’s stock, valued at $2,981,192. The trade was a 16.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,938 shares of company stock worth $5,300,731. 22.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXP Enterprises

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of DXP Enterprises by 13.3% during the 1st quarter. Wellington Management Group LLP now owns 931,004 shares of the industrial products company’s stock valued at $76,584,000 after buying an additional 109,151 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in DXP Enterprises by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock worth $59,513,000 after purchasing an additional 38,900 shares during the last quarter. American Century Companies Inc. lifted its holdings in DXP Enterprises by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company’s stock worth $49,278,000 after purchasing an additional 110,482 shares during the last quarter. Geode Capital Management LLC increased its position in DXP Enterprises by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock worth $28,888,000 after buying an additional 9,216 shares during the period. Finally, Invesco Ltd. increased its position in DXP Enterprises by 22.6% in the 1st quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company’s stock worth $23,068,000 after buying an additional 51,664 shares during the period. 74.82% of the stock is currently owned by institutional investors and hedge funds.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).