Assenagon Asset Management S.A. Trims Holdings in DXP Enterprises, Inc. (NASDAQ:DXPE)

Assenagon Asset Management S.A. trimmed its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 69.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,870 shares of the industrial products company's stock after selling 33,034 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of DXP Enterprises worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in shares of DXP Enterprises in the 4th quarter worth $67,901,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in DXP Enterprises by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company's stock worth $59,513,000 after purchasing an additional 38,900 shares in the last quarter. Northern Trust Corp raised its holdings in DXP Enterprises by 10.2% during the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company's stock worth $18,915,000 after purchasing an additional 21,220 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in DXP Enterprises by 2,589.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company's stock valued at $12,339,000 after purchasing an additional 143,795 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in DXP Enterprises by 26.5% in the 4th quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company's stock valued at $10,244,000 after purchasing an additional 25,942 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DXPE shares. Wall Street Zen downgraded DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Stephens upped their price objective on DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, March 10th.

Insider Buying and Selling

In other DXP Enterprises news, CFO Kent Nee Hung Yee sold 3,457 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $88.43, for a total value of $305,702.51. Following the sale, the chief financial officer now directly owns 68,849 shares of the company's stock, valued at approximately $6,088,317.07. This trade represents a 4.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David R. Little purchased 5,999 shares of the stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of $82.70 per share, with a total value of $496,117.30. Following the acquisition, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. This trade represents a 0.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 11,457 shares of company stock worth $1,015,453 in the last ninety days. Insiders own 22.40% of the company's stock.

DXP Enterprises Stock Performance

Shares of DXPE opened at $78.34 on Wednesday. The company has a quick ratio of 2.25, a current ratio of 2.70 and a debt-to-equity ratio of 1.40. The company has a 50-day simple moving average of $83.78 and a 200-day simple moving average of $86.50. DXP Enterprises, Inc. has a 52-week low of $43.25 and a 52-week high of $107.06. The company has a market capitalization of $1.23 billion, a PE ratio of 16.29 and a beta of 1.17.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $477.00 million. Equities research analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal 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).

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