Private Advisor Group LLC Makes New $791,000 Investment in DXP Enterprises, Inc. (NASDAQ:DXPE)

Key Points

• Private Advisor Group LLC has acquired 9,612 shares of DXP Enterprises, Inc. for around $791,000, increasing its ownership to approximately 0.06% of the company.
• Other institutional investors have significantly increased their stakes in DXP Enterprises, with Wellington Management Group investing $67.9 million and Arrowstreet Capital increasing its position by 2,589%.
• DXP Enterprises reported earnings of $1.26 per share, surpassing analysts' expectations, and has a current market cap of $1.75 billion.

Private Advisor Group LLC purchased a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,612 shares of the industrial products company's stock, valued at approximately $791,000. Private Advisor Group LLC owned 0.06% of DXP Enterprises at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. CWM LLC lifted its stake in 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 last quarter. Lazard Asset Management LLC bought a new stake in DXP Enterprises during the fourth quarter worth $159,000. Hsbc Holdings PLC bought a new stake in DXP Enterprises during the fourth quarter worth $208,000. Janney Montgomery Scott LLC bought a new stake in DXP Enterprises during the first quarter worth $210,000. Finally, Pictet Asset Management Holding SA bought a new stake in DXP Enterprises during the fourth quarter worth $218,000. 74.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

Insiders Place Their Bets

In related news, COO Nicholas Little sold 45,938 shares of the stock in a transaction 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 completion of the sale, the chief operating officer directly owned 812,328 shares in the company, valued at $71,265,535.44. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Paz Maestas sold 3,000 shares of the stock in a transaction 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 sale, the chief marketing officer owned 607,737 shares of the company's stock, valued at $48,065,919.33. The trade was a 0.49% decrease in their ownership of the stock. 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 quarter. 22.70% of the stock is owned by corporate insiders.

DXP Enterprises Price Performance

Shares of DXPE traded down $2.54 during trading hours on Friday, reaching $110.72. The stock had a trading volume of 84,820 shares, compared to its average volume of 186,096. DXP Enterprises, Inc. has a 12 month low of $45.00 and a 12 month high of $115.00. The stock has a market capitalization of $1.74 billion, a PE ratio of 22.95 and a beta of 1.16. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.25 and a current ratio of 2.70. The company's 50-day moving average is $89.77 and its two-hundred day moving average is $89.47.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. The company had revenue of $476.57 million during the quarter, compared to analysts' expectations of $477.00 million. Research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

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).