Raymond James Financial Inc. Makes New $1.04 Million Investment in DXP Enterprises, Inc. (NASDAQ:DXPE)

Raymond James Financial Inc. purchased a new stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,546 shares of the industrial products company's stock, valued at approximately $1,037,000. Raymond James Financial Inc. owned 0.08% of DXP Enterprises as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in DXP Enterprises during the fourth quarter worth about $67,901,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of DXP Enterprises by 2,589.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company's stock worth $12,339,000 after acquiring an additional 143,795 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of DXP Enterprises by 26.5% in the 4th quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company's stock valued at $10,244,000 after purchasing an additional 25,942 shares during the period. Sei Investments Co. boosted its holdings in shares of DXP Enterprises by 11.3% in the fourth quarter. Sei Investments Co. now owns 89,667 shares of the industrial products company's stock worth $7,408,000 after buying an additional 9,133 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of DXP Enterprises by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 71,501 shares of the industrial products company's stock worth $5,907,000 after acquiring an additional 2,504 shares in the last quarter. Institutional investors and hedge funds own 74.82% of the company's stock.

DXP Enterprises Stock Down 1.5 %

DXPE stock traded down $1.34 during midday trading on Friday, reaching $85.16. The company had a trading volume of 147,815 shares, compared to its average volume of 160,993. The company has a 50 day moving average of $82.96 and a two-hundred day moving average of $82.83. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. DXP Enterprises, Inc. has a 1 year low of $43.25 and a 1 year high of $107.06. The company has a market capitalization of $1.34 billion, a P/E ratio of 21.95 and a beta of 1.26.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $476.57 million during the quarter, compared to analysts' expectations of $477.00 million. On average, equities research analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DXP Enterprises news, Director Timothy P. Halter sold 5,000 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $89.75, for a total transaction of $448,750.00. Following the transaction, the director now directly owns 45,925 shares of the company's stock, valued at $4,121,768.75. This represents a 9.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Paz Maestas sold 4,328 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total transaction of $385,365.12. Following the completion of the transaction, the chief marketing officer now directly owns 613,039 shares in the company, valued at approximately $54,584,992.56. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,785 shares of company stock worth $1,139,818. Insiders own 22.40% of the company's stock.

Wall Street Analysts Forecast Growth

DXPE has been the subject of a number of recent analyst reports. Stephens raised their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. StockNews.com raised DXP Enterprises from a "hold" rating to a "buy" rating in a research report on Thursday.

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).