Bessemer Group Inc. Trims Stock Holdings in DXP Enterprises, Inc. (NASDAQ:DXPE)

Bessemer Group Inc. decreased its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 52.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,562 shares of the industrial products company's stock after selling 3,938 shares during the quarter. Bessemer Group Inc.'s holdings in DXP Enterprises were worth $293,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DXPE. New York State Common Retirement Fund lifted its stake in DXP Enterprises by 75.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,211 shares of the industrial products company's stock worth $596,000 after purchasing an additional 3,100 shares in the last quarter. Metis Global Partners LLC purchased a new stake in DXP Enterprises in the 4th quarter worth $252,000. Smartleaf Asset Management LLC lifted its stake in DXP Enterprises by 3,150.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company's stock worth $43,000 after purchasing an additional 504 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in DXP Enterprises in the 4th quarter worth $1,037,000. Finally, Globeflex Capital L P raised its position in shares of DXP Enterprises by 14.5% during the 4th quarter. Globeflex Capital L P now owns 54,786 shares of the industrial products company's stock valued at $4,526,000 after buying an additional 6,923 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company's stock.

DXP Enterprises Trading Up 1.8%

NASDAQ DXPE traded up $1.62 during trading hours on Friday, hitting $91.80. 49,772 shares of the company were exchanged, compared to its average volume of 155,126. The stock has a 50-day moving average price of $85.21 and a 200 day moving average price of $87.26. The company has a quick ratio of 2.25, a current ratio of 2.70 and a debt-to-equity ratio of 1.40. DXP Enterprises, Inc. has a 52 week low of $43.37 and a 52 week high of $107.06. The stock has a market cap of $1.44 billion, a PE ratio of 19.09 and a beta of 1.16.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, topping 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 analysts' expectations of $477.00 million. Analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Activity at DXP Enterprises

In other news, CMO Paz Maestas sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $81.16, for a total value of $162,320.00. Following the sale, the chief marketing officer directly owned 605,737 shares in the company, valued at approximately $49,161,614.92. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Nicholas Little sold 45,938 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was 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 approximately $71,265,535.44. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,938 shares of company stock worth $4,690,731 over the last three months. 22.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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).