DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month High - Here's What Happened

Key Points

• DXP Enterprises shares reached a new 52-week high at $115.00, closing at $111.84 with a volume of 188,434 shares traded.
• Wall Street analysts have downgraded DXP Enterprises from a "buy" to a "hold" rating, while the company reported $1.26 earnings per share, exceeding consensus estimates.
• Insider transactions show significant stock sales, with COO Nicholas Little selling 45,938 shares, reflecting a 5.35% decrease in his position.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $115.00 and last traded at $111.84, with a volume of 188434 shares. The stock had previously closed at $110.53.

Wall Street Analyst Weigh In

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

DXP Enterprises Stock Performance

The stock has a 50-day simple moving average of $90.29 and a 200-day simple moving average of $89.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.70 and a quick ratio of 2.25. The stock has a market cap of $1.73 billion, a PE ratio of 22.87 and a beta of 1.25.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. The company had revenue of $476.57 million for the quarter, compared to analysts' expectations of $477.00 million. Equities analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was 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. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Nicholas Little sold 45,938 shares of the stock in a transaction 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 transaction, the chief operating officer directly owned 812,328 shares of the company's stock, valued at approximately $71,265,535.44. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,938 shares of company stock worth $4,690,731 in the last 90 days. 22.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of DXP Enterprises during the 4th quarter worth $1,037,000. KLP Kapitalforvaltning AS purchased a new stake in shares of DXP Enterprises during the fourth quarter worth $231,000. Prudential Financial Inc. raised its holdings in shares of DXP Enterprises by 96.2% during the fourth quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company's stock worth $2,157,000 after acquiring an additional 12,800 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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. Finally, Norges Bank bought a new position in DXP Enterprises during the fourth quarter valued at about $669,000. 74.82% of the stock is owned by institutional investors.

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).