Cookson Peirce & Co. Inc. Buys New Position in DXP Enterprises, Inc. $DXPE

Key Points

• Cookson Peirce & Co. Inc. acquired a new stake in DXP Enterprises during the first quarter, purchasing 9,441 shares valued at approximately $777,000, representing about 0.06% of the company.
• Several other institutional investors also increased their stakes or purchased new positions in DXP Enterprises, with hedge funds owning 74.82% of the stock.
• Analysts downgraded DXP Enterprises from a "buy" rating to a "hold" rating on May 16th, reflecting a change in market sentiment about the company's performance.

Cookson Peirce & Co. Inc. bought a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,441 shares of the industrial products company's stock, valued at approximately $777,000. Cookson Peirce & Co. Inc. owned approximately 0.06% of DXP Enterprises at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Informed Momentum Co LLC bought a new position in shares of DXP Enterprises in the 1st quarter worth $1,731,000. Public Sector Pension Investment Board lifted its holdings in shares of DXP Enterprises by 27.6% during the 1st quarter. Public Sector Pension Investment Board now owns 40,367 shares of the industrial products company's stock worth $3,321,000 after acquiring an additional 8,720 shares during the last quarter. Nuveen LLC purchased a new position in DXP Enterprises in the first quarter worth $3,118,000. Virtu Financial LLC bought a new position in DXP Enterprises in the first quarter valued at $286,000. Finally, Invesco Ltd. increased its stake in DXP Enterprises by 22.6% in the first quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company's stock valued at $23,068,000 after acquiring an additional 51,664 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors.

Insider Activity

In other DXP Enterprises news, COO Nicholas Little sold 45,938 shares of the firm'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 sale, the chief operating officer owned 812,328 shares of the company's stock, valued at $71,265,535.44. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Jay Jeffery sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $120.25, for a total transaction of $240,500.00. Following the completion of the transaction, the senior vice president owned 24,008 shares in the company, valued at $2,886,962. The trade was a 7.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,938 shares of company stock worth $5,880,781. 22.70% of the stock is currently owned by corporate insiders.

DXP Enterprises Trading Down 1.0%

DXP Enterprises stock traded down $1.17 during trading hours on Wednesday, reaching $114.89. The company had a trading volume of 137,857 shares, compared to its average volume of 202,140. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The company has a 50-day moving average price of $98.93 and a 200 day moving average price of $90.73. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 21.93 and a beta of 1.25. DXP Enterprises, Inc. has a 12-month low of $45.81 and a 12-month high of $123.63.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.04. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The firm had revenue of $498.68 million during the quarter, compared to analyst estimates of $499.00 million. Equities analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $95.00.

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).