Virtu Financial LLC Makes New Investment 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 acquired a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,476 shares of the industrial products company's stock, valued at approximately $286,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its position in DXP Enterprises by 0.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock valued at $1,432,000 after purchasing an additional 142 shares during the period. CastleKnight Management LP raised its stake in shares of DXP Enterprises by 0.3% in the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock worth $9,691,000 after buying an additional 300 shares in the last quarter. CWM LLC raised its position in shares of DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after purchasing an additional 362 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of DXP Enterprises by 8.1% during the first quarter. Illinois Municipal Retirement Fund now owns 6,777 shares of the industrial products company's stock worth $557,000 after purchasing an additional 508 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of DXP Enterprises by 7.5% during the fourth 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 during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Paz Maestas sold 5,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the sale, the chief marketing officer directly owned 600,737 shares in the company, valued at $72,154,521.07. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher T. Gregory sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the sale, the insider owned 24,436 shares in the company, valued at $2,981,192. The trade was a 16.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,938 shares of company stock worth $5,901,281. Corporate insiders own 22.40% of the company's stock.

DXP Enterprises Price Performance

DXPE stock traded down $5.46 during midday trading on Tuesday, reaching $116.06. 124,318 shares of the company's stock traded hands, compared to its average volume of 187,677. The company has a 50-day simple moving average of $97.53 and a two-hundred day simple moving average of $90.38. DXP Enterprises, Inc. has a 1-year low of $45.81 and a 1-year high of $123.63. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 22.15 and a beta of 1.25. The company has a quick ratio of 2.33, a current ratio of 2.79 and a debt-to-equity ratio of 1.33.

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

Analyst Ratings Changes

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

DXP Enterprises 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).