DXP Enterprises (NASDAQ:DXPE) Sets New 52-Week High - Here's Why

Key Points

• DXP Enterprises' stock reached a new 52-week high of $107.98 during trading, closing at $105.63 after a volume of 253 shares traded.
• Wall Street Zen downgraded DXP Enterprises from a "buy" rating to a "hold" rating on May 16th.
• The company reported $1.26 earnings per share for the last quarter, surpassing estimates, while revenue was slightly below consensus at $476.57 million.
• Insiders sold 53,938 shares of DXP Enterprises stock valued at approximately $4.69 million in the last three months, with insiders currently owning 22.70% of the company's shares.

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $107.98 and last traded at $105.63, with a volume of 253 shares. The stock had previously closed at $102.18.

Analyst Ratings Changes

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

DXP Enterprises Stock Up 2.3%

The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 22.49 and a beta of 1.16. The stock has a 50-day moving average of $87.76 and a 200-day moving average of $88.84. The company has a current ratio of 2.70, a quick ratio of 2.25 and a debt-to-equity ratio of 1.40.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.06. DXP Enterprises had a net margin of 4.27% and a return on equity of 20.41%. The company had revenue of $476.57 million during the quarter, compared to the consensus estimate of $477.00 million. As a group, sell-side analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, COO Nicholas Little sold 45,938 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $87.73, for a total value of $4,030,140.74. Following the sale, the chief operating officer owned 812,328 shares in the company, valued at approximately $71,265,535.44. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Paz Maestas sold 2,000 shares of DXP Enterprises stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $81.16, for a total value of $162,320.00. Following the sale, the chief marketing officer directly owned 605,737 shares in the company, valued at $49,161,614.92. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,938 shares of company stock worth $4,690,731 in the last 90 days. 22.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in DXP Enterprises during the fourth quarter worth approximately $67,901,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of DXP Enterprises by 2,589.0% during 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 in the last quarter. Millennium Management LLC grew its holdings in shares of DXP Enterprises by 661.5% in the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock worth $10,608,000 after acquiring an additional 112,021 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of DXP Enterprises during the first quarter worth $5,831,000. Finally, Invesco Ltd. raised its position in shares of DXP Enterprises by 22.6% during the first quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company's stock worth $23,068,000 after purchasing an additional 51,664 shares during the period. 74.82% of the stock is owned by institutional investors.

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).