DXP Enterprises (NASDAQ:DXPE) Hits New 1-Year High - Here's What Happened

Key Points

• DXP Enterprises shares recently reached a new 52-week high, trading at $115.00 before settling at $113.17, with a trading volume of 12,831 shares.
• Analysts at Wall Street Zen downgraded DXP Enterprises from a "buy" to a "hold" rating, indicating a more cautious outlook.
• For the last quarter, DXP Enterprises reported an earnings per share (EPS) of $1.26, exceeding analyst expectations of $1.20, and generated revenue of $476.57 million.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $115.00 and last traded at $113.17, with a volume of 12831 shares trading hands. The stock had previously closed at $114.14.

Wall Street Analyst Weigh In

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

DXP Enterprises Trading Up 5.6%

The firm has a market cap of $1.73 billion, a PE ratio of 21.02 and a beta of 1.25. The firm has a fifty day simple moving average of $92.43 and a two-hundred day simple moving average of $89.84. 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 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 company 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 21.50% and a net margin of 4.52%. Equities analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, COO Nicholas Little sold 45,938 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 812,328 shares in the company, valued at $71,265,535.44. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $79.09, for a total value of $237,270.00. Following the transaction, the chief marketing officer owned 607,737 shares in the company, valued at $48,065,919.33. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,938 shares of company stock valued at $4,690,731 over the last 90 days. Company insiders own 22.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in DXP Enterprises by 2.9% in the second quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company's stock worth $28,888,000 after purchasing an additional 9,216 shares during the period. Acadian Asset Management LLC lifted its position in DXP Enterprises by 3.3% during the second quarter. Acadian Asset Management LLC now owns 76,812 shares of the industrial products company's stock valued at $6,730,000 after buying an additional 2,425 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of DXP Enterprises during the 2nd quarter valued at $427,000. Savant Capital LLC grew its position in shares of DXP Enterprises by 10.6% in the 2nd quarter. Savant Capital LLC now owns 3,510 shares of the industrial products company's stock worth $308,000 after buying an additional 336 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of DXP Enterprises by 23.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company's stock worth $1,871,000 after acquiring an additional 4,087 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company's stock.

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).