Prudential Financial Inc. Has $912,000 Position in DXP Enterprises, Inc. (DXPE)
Prudential Financial Inc. lowered its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,428 shares of the industrial products company’s stock after selling 270 shares during the quarter. Prudential Financial Inc. owned approximately 0.15% of DXP Enterprises worth $912,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in DXP Enterprises during the 1st quarter valued at approximately $102,000. State of Alaska Department of Revenue boosted its position in DXP Enterprises by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,059 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 1,349 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in DXP Enterprises by 3.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,530 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 130 shares during the period. Mason Street Advisors LLC boosted its position in DXP Enterprises by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 3,608 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 236 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in DXP Enterprises during the 1st quarter valued at approximately $201,000. Institutional investors and hedge funds own 74.18% of the company’s stock.
DXP Enterprises, Inc. (DXPE) opened at 32.10 on Friday. The firm has a market cap of $558.57 million, a price-to-earnings ratio of 37.33 and a beta of 2.66. DXP Enterprises, Inc. has a 12 month low of $19.61 and a 12 month high of $42.00. The firm’s 50-day moving average price is $28.92 and its 200-day moving average price is $32.99.
DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. DXP Enterprises had a return on equity of 6.15% and a net margin of 1.58%. The firm had revenue of $250.69 million during the quarter, compared to analysts’ expectations of $246.15 million. During the same period last year, the firm posted $0.34 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that DXP Enterprises, Inc. will post $0.76 earnings per share for the current year.
A number of research analysts recently issued reports on the company. BidaskClub lowered DXP Enterprises from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 30th. Zacks Investment Research lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. DXP Enterprises presently has an average rating of “Hold” and a consensus price target of $37.67.
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About DXP Enterprises
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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