Virtu Financial LLC Invests $286,000 in DXP Enterprises, Inc. $DXPE

Key Points

• Virtu Financial LLC acquired 3,476 shares of DXP Enterprises, Inc., valued at approximately $286,000, signaling interest from institutional investors in the industrial products sector.
• Despite reporting earnings per share of $1.43, which beat expectations, DXP Enterprises had revenue slightly below the analyst consensus, totaling $498.68 million.
• Insider trading activity included COO Nicholas Little selling 45,938 shares at an average price of $87.73, indicating potential changes in management's confidence regarding the company's stock performance.

Virtu Financial LLC purchased a new position in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,476 shares of the industrial products company's stock, valued at approximately $286,000.

A number of other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in DXP Enterprises by 22.6% in the 1st quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company's stock worth $23,068,000 after purchasing an additional 51,664 shares in the last quarter. Townsquare Capital LLC purchased a new position in DXP Enterprises in the 1st quarter worth approximately $828,000. Rezny Wealth Management Inc. purchased a new position in DXP Enterprises in the 1st quarter worth approximately $1,447,000. Federated Hermes Inc. raised its holdings in shares of DXP Enterprises by 11.3% during the 1st quarter. Federated Hermes Inc. now owns 12,486 shares of the industrial products company's stock worth $1,027,000 after acquiring an additional 1,266 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of DXP Enterprises by 18.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,856 shares of the industrial products company's stock worth $399,000 after acquiring an additional 743 shares in the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Christopher T. Gregory sold 5,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total transaction of $610,000.00. Following the transaction, the insider owned 24,436 shares of the company's stock, valued at approximately $2,981,192. This represents a 16.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Jay Jeffery sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $120.25, for a total value of $240,500.00. Following the transaction, the senior vice president directly owned 24,008 shares in the company, valued at $2,886,962. The trade was a 7.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,938 shares of company stock worth $5,880,781. 22.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut DXP Enterprises from a "buy" rating to a "hold" rating in a report on Friday, May 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, DXP Enterprises has an average rating of "Buy" and an average target price of $95.00.

DXP Enterprises Trading Up 1.1%

NASDAQ:DXPE traded up $1.30 during midday trading on Thursday, hitting $116.19. 100,677 shares of the company traded hands, compared to its average volume of 198,653. The firm's fifty day moving average is $99.68 and its 200-day moving average is $90.85. DXP Enterprises, Inc. has a 12-month low of $45.81 and a 12-month high of $123.63. The firm has a market capitalization of $1.82 billion, a P/E ratio of 22.17 and a beta of 1.25. The company has a current ratio of 2.79, a quick ratio of 2.33 and a debt-to-equity ratio of 1.33.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.04. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The company had revenue of $498.68 million for the quarter, compared to analyst estimates of $499.00 million. On average, sell-side analysts predict that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

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).