DXP Enterprises, Inc. (NASDAQ:DXPE) Insider Sells $610,000.00 in Stock

Key Points

• Insider Sale: DXP Enterprises insider Christopher T. Gregory sold 5,000 shares at an average price of $122.00, totaling $610,000, which decreased his stake by 16.99% to 24,436 shares.
• Stock Performance: Following the sale, DXP Enterprises' stock rose by 5.9%, reaching $122.29, with a market cap of $1.92 billion.
• Earnings Report: The company reported an earnings per share (EPS) of $1.43 for the last quarter, surpassing analysts' expectations of $1.39, with revenues nearly on par with estimates at $498.68 million.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) insider Christopher T. Gregory sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total value of $610,000.00. Following the completion of the transaction, the insider directly owned 24,436 shares of the company's stock, valued at $2,981,192. This represents a 16.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

DXP Enterprises Stock Up 5.9%

DXPE traded up $6.86 on Tuesday, reaching $122.29. The company's stock had a trading volume of 323,935 shares, compared to its average volume of 278,702. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 23.34 and a beta of 1.25. DXP Enterprises, Inc. has a 1 year low of $45.81 and a 1 year high of $123.63. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The business's 50 day moving average is $94.46 and its 200 day moving average is $89.96.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.04. The firm had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%. As a group, research analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Institutional Trading of DXP Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of DXPE. JPMorgan Chase & Co. raised its stake in DXP Enterprises by 26.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company's stock valued at $10,244,000 after buying an additional 25,942 shares in the last quarter. Wells Fargo & Company MN raised its stake in DXP Enterprises by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,397 shares of the industrial products company's stock valued at $611,000 after buying an additional 1,629 shares in the last quarter. Russell Investments Group Ltd. raised its stake in DXP Enterprises by 25,610.8% during the fourth quarter. Russell Investments Group Ltd. now owns 9,513 shares of the industrial products company's stock valued at $786,000 after buying an additional 9,476 shares in the last quarter. Federated Hermes Inc. raised its stake in DXP Enterprises by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company's stock valued at $927,000 after buying an additional 502 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in DXP Enterprises during the fourth quarter valued at approximately $1,037,000. Institutional investors and hedge funds own 74.82% of the company's stock.

Analysts Set New Price Targets

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

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).

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