Cookson Peirce & Co. Inc. Makes New $777,000 Investment 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. acquired a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,441 shares of the industrial products company's stock, valued at approximately $777,000. Cookson Peirce & Co. Inc. owned about 0.06% of DXP Enterprises as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of DXP Enterprises by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,406 shares of the industrial products company's stock worth $856,000 after buying an additional 3,649 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in DXP Enterprises in the first quarter valued at $210,000. Informed Momentum Co LLC acquired a new position in shares of DXP Enterprises in the first quarter valued at $1,731,000. Illinois Municipal Retirement Fund increased its holdings in shares of DXP Enterprises by 8.1% in the first quarter. Illinois Municipal Retirement Fund now owns 6,777 shares of the industrial products company's stock valued at $557,000 after purchasing an additional 508 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in DXP Enterprises by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,293 shares of the industrial products company's stock worth $2,751,000 after acquiring an additional 4,321 shares during the period. Institutional investors own 74.82% of the company's stock.

DXP Enterprises Trading Down 3.7%

NASDAQ DXPE traded down $4.5350 during trading hours on Tuesday, reaching $116.9850. The company's stock had a trading volume of 80,815 shares, compared to its average volume of 187,371. The stock has a market cap of $1.84 billion, a P/E ratio of 22.36 and a beta of 1.25. DXP Enterprises, Inc. has a 52 week low of $45.81 and a 52 week high of $123.63. 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 firm has a fifty day simple moving average of $97.53 and a 200-day simple moving average of $90.38.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other DXP Enterprises news, CMO Paz Maestas sold 5,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the completion of the sale, the chief marketing officer owned 600,737 shares of the company's stock, valued at $72,154,521.07. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher T. Gregory sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total value of $610,000.00. Following the sale, the insider directly owned 24,436 shares of the company's stock, valued at approximately $2,981,192. This trade represents a 16.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,938 shares of company stock worth $5,901,281. Insiders own 22.40% 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).