Balyasny Asset Management L.P. Invests $1.25 Million in DXP Enterprises, Inc. (NASDAQ:DXPE)

Balyasny Asset Management L.P. acquired a new position in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,146 shares of the industrial products company's stock, valued at approximately $1,251,000. Balyasny Asset Management L.P. owned 0.10% of DXP Enterprises as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position in DXP Enterprises by 4.4% in the fourth quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company's stock worth $633,000 after acquiring an additional 326 shares during the period. Global Retirement Partners LLC grew its position in DXP Enterprises by 2,220.0% in the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company's stock worth $29,000 after acquiring an additional 333 shares during the period. Federated Hermes Inc. grew its position in DXP Enterprises by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company's stock worth $927,000 after acquiring an additional 502 shares during the period. Smartleaf Asset Management LLC grew its position in DXP Enterprises by 3,150.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company's stock worth $43,000 after acquiring an additional 504 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of DXP Enterprises by 7.5% during the fourth quarter. MetLife Investment Management LLC now owns 7,737 shares of the industrial products company's stock worth $639,000 after buying an additional 541 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Stock Performance

DXPE traded up $0.77 during trading on Friday, reaching $89.76. The company's stock had a trading volume of 66,320 shares, compared to its average volume of 159,695. DXP Enterprises, Inc. has a 52-week low of $43.25 and a 52-week high of $107.06. The company's fifty day moving average price is $83.72 and its 200-day moving average price is $83.69. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 23.13 and a beta of 1.26. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings results 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 net margin of 3.75% and a return on equity of 18.74%. The company had revenue of $476.57 million during the quarter, compared to the consensus estimate of $477.00 million. On average, equities analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DXPE has been the topic of several analyst reports. StockNews.com cut DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Friday. Stephens lifted their target price on DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, March 10th.

Insider Activity

In related news, Director Timothy P. Halter sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $89.75, for a total value of $448,750.00. Following the sale, the director now owns 45,925 shares of the company's stock, valued at approximately $4,121,768.75. This represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Paz Maestas sold 4,328 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total value of $385,365.12. Following the completion of the transaction, the chief marketing officer now owns 613,039 shares of the company's stock, valued at $54,584,992.56. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,785 shares of company stock worth $1,139,818. Company insiders own 22.70% of the company's stock.

DXP Enterprises Company Profile

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).