DXP Enterprises (NASDAQ:DXPE) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• DXP Enterprises reported a quarterly earnings per share (EPS) of $1.43, exceeding expectations by $0.04.
• The company's stock saw a decline of 7.2% following the earnings announcement.
• Insiders have sold over 53,000 shares of the company's stock in recent transactions, indicating a 22.70% insider ownership.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) issued its quarterly earnings data on Wednesday. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.04, Zacks reports. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%. The firm had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million.

DXP Enterprises Stock Up 6.5%

DXP Enterprises stock traded up $7.45 during trading on Tuesday, reaching $122.89. 192,949 shares of the company's stock were exchanged, compared to its average volume of 188,576. The company's 50-day moving average is $93.64 and its two-hundred day moving average is $89.73. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79. DXP Enterprises has a 52-week low of $45.81 and a 52-week high of $123.09. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 23.45 and a beta of 1.25.

Insiders Place Their Bets

In related news, COO Nicholas Little sold 45,938 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following the completion of the sale, the chief operating officer directly owned 812,328 shares of the company's stock, valued at approximately $71,265,535.44. This represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Paz Maestas sold 2,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $81.16, for a total transaction of $162,320.00. Following the completion of the transaction, the chief marketing officer directly owned 605,737 shares of the company's stock, valued at approximately $49,161,614.92. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,938 shares of company stock valued at $4,690,731. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock worth $10,608,000 after purchasing an additional 112,021 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of DXP Enterprises by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company's stock worth $5,874,000 after purchasing an additional 5,820 shares during the last quarter. Jane Street Group LLC lifted its position in shares of DXP Enterprises by 433.8% during the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company's stock worth $4,850,000 after purchasing an additional 47,909 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of DXP Enterprises by 29.4% during the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock worth $417,000 after purchasing an additional 1,153 shares during the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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).