Assenagon Asset Management S.A. Has $1.91 Million Stake in DXP Enterprises, Inc. $DXPE

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in DXP Enterprises by 46.2% during the second quarter, owning approximately $1.91 million worth of shares.
• Several institutional investors have also expanded their holdings, leading to a total of 74.82% institutional ownership in DXP Enterprises.
• DXP Enterprises reported an EPS of $1.43 for the last quarter, exceeding analysts' expectations, and has an average target price of $95.00 from analysts.

Assenagon Asset Management S.A. increased its position in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 46.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,741 shares of the industrial products company's stock after purchasing an additional 6,871 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.14% of DXP Enterprises worth $1,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DXPE. Allspring Global Investments Holdings LLC lifted its holdings in shares of DXP Enterprises by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,406 shares of the industrial products company's stock worth $856,000 after acquiring an additional 3,649 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of DXP Enterprises during the 1st quarter worth approximately $210,000. Informed Momentum Co LLC acquired a new stake in DXP Enterprises during the 1st quarter worth $1,731,000. Illinois Municipal Retirement Fund grew its stake 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of DXP Enterprises by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,293 shares of the industrial products company's stock valued at $2,751,000 after acquiring an additional 4,321 shares during the last quarter. Institutional investors own 74.82% of the company's stock.

Insider Activity

In other news, COO Nicholas Little sold 45,938 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 812,328 shares of the company's stock, valued at $71,265,535.44. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Jay Jeffery sold 2,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $125.43, for a total transaction of $250,860.00. Following the completion of the sale, the senior vice president directly owned 20,008 shares in the company, valued at approximately $2,509,603.44. This represents a 9.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,254 shares of company stock worth $8,990,844. 22.70% of the stock is currently owned by insiders.

DXP Enterprises Price Performance

Shares of NASDAQ DXPE opened at $121.97 on Friday. The company has a fifty day moving average price of $116.40 and a 200 day moving average price of $95.77. The firm has a market cap of $1.91 billion, a PE ratio of 23.28 and a beta of 1.24. 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, Inc. has a 1-year low of $48.45 and a 1-year high of $129.56.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%. Research analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Singular Research raised DXP Enterprises to a "moderate buy" rating in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DXP Enterprises currently has an average rating of "Buy" and an average target price of $95.00.

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).

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