Bank of America Corp DE Raises Stake in DXP Enterprises, Inc. (NASDAQ:DXPE)

Bank of America Corp DE increased its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,695 shares of the industrial products company's stock after buying an additional 4,762 shares during the quarter. Bank of America Corp DE owned about 0.14% of DXP Enterprises worth $1,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DXPE. Longboard Asset Management LP acquired a new position in DXP Enterprises in the 4th quarter valued at about $216,000. Savant Capital LLC acquired a new position in DXP Enterprises in the fourth quarter valued at approximately $230,000. Avidian Wealth Enterprises LLC purchased a new position in DXP Enterprises in the fourth quarter worth approximately $371,000. Principal Financial Group Inc. grew its position in DXP Enterprises by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 71,501 shares of the industrial products company's stock worth $5,907,000 after acquiring an additional 2,504 shares during the period. Finally, New York State Common Retirement Fund increased its stake in DXP Enterprises by 75.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,211 shares of the industrial products company's stock worth $596,000 after acquiring an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company's stock.

DXP Enterprises Trading Up 0.4%

DXP Enterprises stock traded up $0.32 during trading on Friday, hitting $81.31. The company had a trading volume of 18,325 shares, compared to its average volume of 158,287. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The company's 50 day simple moving average is $83.42 and its 200-day simple moving average is $85.95. DXP Enterprises, Inc. has a 1-year low of $43.25 and a 1-year high of $107.06. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 20.94 and a beta of 1.17.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted 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. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $476.57 million for the quarter, compared to the consensus estimate of $477.00 million. As a group, analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DXPE has been the subject of a number of research analyst reports. Wall Street Zen cut DXP Enterprises from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Stephens increased their target price on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th.

Insider Activity

In related news, CMO Paz Maestas sold 4,328 shares of DXP Enterprises stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $89.04, for a total value of $385,365.12. Following the completion of the transaction, the chief marketing officer now directly owns 613,039 shares in the company, valued at approximately $54,584,992.56. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy P. Halter sold 5,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $89.75, for a total value of $448,750.00. Following the sale, the director now owns 45,925 shares in the company, valued at approximately $4,121,768.75. This trade represents a 9.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,785 shares of company stock valued at $1,400,818. 22.70% of the stock is currently owned by company insiders.

DXP Enterprises Company 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).