DXP Enterprises (NASDAQ:DXPE) Releases 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) released its earnings results on Wednesday. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.04, Zacks reports. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. The business had revenue of $498.68 million for the quarter, compared to analyst estimates of $499.00 million.

DXP Enterprises Trading Up 5.5%

Shares of DXPE stock traded up $5.73 during trading on Friday, hitting $110.01. 248,339 shares of the stock traded hands, compared to its average volume of 266,191. DXP Enterprises has a 52-week low of $45.00 and a 52-week high of $115.00. The firm has a market capitalization of $1.73 billion, a P/E ratio of 20.99 and a beta of 1.25. The firm's fifty day moving average price is $92.98 and its 200-day moving average price is $89.79. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.25.

Insider Buying and Selling

In related news, COO Nicholas Little sold 45,938 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was 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 in the company, valued at approximately $71,265,535.44. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Paz Maestas sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $79.09, for a total value of $237,270.00. Following the completion of the transaction, the chief marketing officer owned 607,737 shares in the company, valued at $48,065,919.33. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,938 shares of company stock worth $4,690,731 over the last quarter. 22.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DXPE. Royal Bank of Canada raised its position in DXP Enterprises by 29.4% in the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock valued at $417,000 after purchasing an additional 1,153 shares during the period. Jane Street Group LLC raised its position in DXP Enterprises by 433.8% in the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company's stock valued at $4,850,000 after purchasing an additional 47,909 shares during the period. Finally, Millennium Management LLC raised its position in DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock valued at $10,608,000 after purchasing an additional 112,021 shares during the period. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research note 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).