Arrowstreet Capital Limited Partnership Sells 26,648 Shares of DXP Enterprises, Inc. $DXPE

Key Points

• Arrowstreet Capital reduced its DXP Enterprises stake by 23.2%, selling 26,648 shares and retaining 87,981 shares valued at approximately $12.3 million. Institutional investors collectively own 74.82% of the company.
• DXP Enterprises insiders also sold shares, including CMO Paz Maestas’ $1.64 million transaction and Director Timothy P. Halter’s $968,759 sale; insiders still own 22% of the stock.
• The company’s latest quarterly results missed expectations, with EPS of $1.26 versus the $1.38 consensus and revenue of $521.66 million versus $531 million expected. Several analysts downgraded the stock to “Hold,” while the average price target is $154.

Arrowstreet Capital Limited Partnership trimmed its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 23.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,981 shares of the industrial products company's stock after selling 26,648 shares during the period. Arrowstreet Capital Limited Partnership owned 0.57% of DXP Enterprises worth $12,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company's stock worth $41,000 after purchasing an additional 456 shares in the last quarter. KBC Group NV acquired a new position in shares of DXP Enterprises in the 1st quarter valued at approximately $51,000. Clearstead Advisors LLC raised its position in shares of DXP Enterprises by 164.5% in the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company's stock valued at $54,000 after buying an additional 306 shares in the last quarter. State of Wyoming bought a new stake in shares of DXP Enterprises during the 4th quarter worth approximately $152,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of DXP Enterprises during the 4th quarter worth approximately $154,000. Institutional investors and hedge funds own 74.82% of the company's stock.

Insiders Place Their Bets

In other DXP Enterprises news, CMO Paz Maestas sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the sale, the chief marketing officer directly owned 590,262 shares of the company's stock, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total value of $968,758.78. Following the sale, the director directly owned 30,000 shares of the company's stock, valued at $4,247,700. The trade was a 18.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 22.00% of the stock is owned by company insiders.

DXP Enterprises Stock Up 1.4%

DXP Enterprises stock opened at $157.02 on Friday. The company has a market capitalization of $2.43 billion, a PE ratio of 29.35 and a beta of 0.97. DXP Enterprises, Inc. has a 12-month low of $84.04 and a 12-month high of $183.91. The firm's fifty day moving average is $161.83 and its 200 day moving average is $150.04. The company has a quick ratio of 2.56, a current ratio of 2.98 and a debt-to-equity ratio of 1.60.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.12). The company had revenue of $521.66 million for the quarter, compared to analyst estimates of $531.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. As a group, sell-side analysts predict that DXP Enterprises, Inc. will post 6.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen downgraded DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Freedom Capital lowered shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Zacks Research cut DXP Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Finally, Weiss Ratings cut DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $154.00.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP's product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.

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