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

Assenagon Asset Management S.A. reduced its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 69.0% during the 1st quarter, according to its most recent Form 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 0.09% of DXP Enterprises worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DXPE. Wellington Management Group LLP acquired a new position in DXP Enterprises during the fourth quarter worth about $67,901,000. Arrowstreet Capital Limited Partnership grew its position in shares of 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 last quarter. GAMMA Investing LLC grew its position in shares of DXP Enterprises by 9,327.6% in the first quarter. GAMMA Investing LLC now owns 41,953 shares of the industrial products company's stock valued at $3,451,000 after purchasing an additional 41,508 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of DXP Enterprises by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company's stock valued at $59,513,000 after purchasing an additional 38,900 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of DXP Enterprises by 26.5% in the fourth 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 during the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Price Performance

Shares of DXPE stock traded up $3.23 during trading hours on Friday, hitting $81.90. The company's stock had a trading volume of 309,609 shares, compared to its average volume of 151,671. The business has a fifty day moving average of $83.79 and a 200-day moving average of $86.62. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 17.03 and a beta of 1.17. DXP Enterprises, Inc. has a twelve month low of $43.25 and a twelve month high of $107.06. The company has a current ratio of 2.70, a quick ratio of 2.25 and a debt-to-equity ratio of 1.40.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.06. The business had revenue of $476.57 million for the quarter, compared to the consensus estimate of $477.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 20.41%. As a group, equities research analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on DXPE. Wall Street Zen lowered shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Stephens increased their price target on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, March 10th.

Insider Activity at DXP Enterprises

In related news, CFO Kent Nee Hung Yee sold 3,457 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total transaction of $305,702.51. Following the transaction, the chief financial officer now owns 68,849 shares of the company's stock, valued at approximately $6,088,317.07. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David R. Little acquired 5,999 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average cost of $82.70 per share, for a total transaction of $496,117.30. Following the purchase, the chief executive officer now directly owns 1,257,593 shares of the company's stock, valued at approximately $104,002,941.10. This trade represents a 0.48% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 14,457 shares of company stock valued at $1,252,723. Company insiders own 22.70% of the company's stock.

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).