DXP Enterprises (NASDAQ:DXPE) Issues Earnings Results

by · The Markets Daily

DXP Enterprises (NASDAQ:DXPEGet Free Report) issued its earnings results on Wednesday. The industrial products company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17, Zacks reports. DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%.

DXP Enterprises Trading Down 1.5%

Shares of NASDAQ DXPE traded down $2.61 during midday trading on Wednesday, reaching $168.37. The stock had a trading volume of 172,006 shares, compared to its average volume of 122,130. DXP Enterprises has a twelve month low of $84.04 and a twelve month high of $183.91. The company’s 50 day moving average price is $163.05 and its 200 day moving average price is $151.36. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 31.47 and a beta of 0.98. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DXPE. Wall Street Zen cut DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, DXP Enterprises presently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

Read Our Latest Report on DXP Enterprises

Insiders Place Their Bets

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total value of $968,758.78. Following the completion of the sale, the director directly owned 30,000 shares in the company, valued at approximately $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Paz Maestas sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer owned 590,262 shares in the company, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 22.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of DXP Enterprises by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock valued at $133,867,000 after buying an additional 137,577 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock worth $82,859,000 after purchasing an additional 624,638 shares in the last quarter. Geode Capital Management LLC raised its position in shares of DXP Enterprises by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company’s stock valued at $36,895,000 after purchasing an additional 9,767 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of DXP Enterprises by 0.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 271,079 shares of the industrial products company’s stock valued at $32,278,000 after buying an additional 2,359 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of DXP Enterprises by 41.6% during the 3rd quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock valued at $29,862,000 after buying an additional 73,653 shares in the last quarter. 74.82% of the stock is owned by institutional investors.

About DXP Enterprises

(Get Free Report)

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.

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