Bank of New York Mellon Corp Lowers Stock Holdings in DXP Enterprises, Inc. (NASDAQ:DXPE)

Bank of New York Mellon Corp lowered its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 4.0% 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 91,761 shares of the industrial products company's stock after selling 3,840 shares during the period. Bank of New York Mellon Corp owned about 0.58% of DXP Enterprises worth $7,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of DXP Enterprises during the 4th quarter worth about $159,000. Hsbc Holdings PLC bought a new stake in shares of DXP Enterprises during the 4th quarter valued at approximately $208,000. Janney Montgomery Scott LLC bought a new stake in shares of DXP Enterprises during the 1st quarter valued at approximately $210,000. Pictet Asset Management Holding SA bought a new stake in shares of DXP Enterprises during the 4th quarter valued at approximately $218,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of DXP Enterprises during the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 74.82% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of DXP Enterprises from a "buy" rating to a "hold" rating in a report on Friday, May 16th.

Insiders Place Their Bets

In other news, COO Nicholas Little sold 45,938 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $87.73, for a total value of $4,030,140.74. Following the completion of the sale, the chief operating officer owned 812,328 shares in the company, valued at $71,265,535.44. This represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Paz Maestas sold 3,000 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $79.09, for a total transaction of $237,270.00. Following the completion of the sale, the chief marketing officer owned 607,737 shares of the company's stock, valued at approximately $48,065,919.33. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,938 shares of company stock worth $4,690,731 in the last quarter. 22.70% of the stock is owned by corporate insiders.

DXP Enterprises Trading Up 2.3%

NASDAQ DXPE traded up $2.42 on Friday, hitting $108.17. The company's stock had a trading volume of 223,019 shares, compared to its average volume of 244,097. The firm has a market cap of $1.70 billion, a PE ratio of 22.49 and a beta of 1.16. DXP Enterprises, Inc. has a 1-year low of $45.00 and a 1-year high of $108.65. 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's 50-day moving average is $87.76 and its 200 day moving average is $88.84.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.06. The firm 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, 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).