DXP Enterprises (NASDAQ:DXPE) Sets New 12-Month High - Here's Why

Key Points

• DXP Enterprises stock reached a new 52-week high of $116.32 during mid-day trading, closing at $115.43 with a trading volume of 237,644 shares.
• Wall Street analysts downgraded DXP Enterprises from a "buy" rating to a "hold" rating on May 16th, reflecting a cautious outlook on the company's performance.
• The company's latest quarterly earnings report revealed a net margin of 4.52% and earnings per share of $1.43, exceeding analysts' expectations of $1.39 per share.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $116.32 and last traded at $115.43, with a volume of 237644 shares trading hands. The stock had previously closed at $110.01.

Wall Street Analyst Weigh In

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 Trading Down 1.5%

The business's 50-day moving average price is $96.71 and its 200 day moving average price is $90.41. The company has a market cap of $1.84 billion, a P/E ratio of 22.32 and a beta of 1.25. 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 (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.52% and a return on equity of 20.94%. As a group, analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Transactions at DXP Enterprises

In other 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 transaction of $4,030,140.74. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Paz Maestas sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $81.16, for a total transaction of $162,320.00. Following the sale, the chief marketing officer owned 605,737 shares of the company's stock, valued at approximately $49,161,614.92. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,938 shares of company stock worth $5,300,731. 22.70% of the stock is owned by insiders.

Institutional Trading of DXP Enterprises

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in shares of DXP Enterprises by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,397 shares of the industrial products company's stock valued at $611,000 after buying an additional 1,629 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of DXP Enterprises by 25,610.8% in the 4th quarter. Russell Investments Group Ltd. now owns 9,513 shares of the industrial products company's stock valued at $786,000 after buying an additional 9,476 shares in the last quarter. Raymond James Financial Inc. acquired a new position in DXP Enterprises during the 4th quarter worth approximately $1,037,000. XTX Topco Ltd acquired a new position in DXP Enterprises during the 4th quarter worth approximately $481,000. Finally, MetLife Investment Management LLC increased its position in DXP Enterprises by 7.5% during the 4th quarter. MetLife Investment Management LLC now owns 7,737 shares of the industrial products company's stock worth $639,000 after purchasing an additional 541 shares in the last quarter. Institutional investors own 74.82% of the company's stock.

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).