Deutsche Bank AG Sells 32,494 Shares of DXP Enterprises, Inc. $DXPE

Key Points

• Deutsche Bank AG reduced its holdings in DXP Enterprises by 77.1% during Q1, owning 9,633 shares worth approximately $792,000 after selling 32,494 shares.
• Other institutional investors, including Federated Hermes Inc. and Zurcher Kantonalbank, increased their stakes in DXP Enterprises, showcasing a diverse interest from the investment community.
• DXP Enterprises reported an earnings per share (EPS) of $1.43 for the last quarter, slightly surpassing analysts' expectations, and analysts anticipate a yearly EPS of 4.07.

Deutsche Bank AG cut its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 77.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,633 shares of the industrial products company's stock after selling 32,494 shares during the period. Deutsche Bank AG owned approximately 0.06% of DXP Enterprises worth $792,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Federated Hermes Inc. boosted its position in shares of DXP Enterprises by 11.3% during the first quarter. Federated Hermes Inc. now owns 12,486 shares of the industrial products company's stock valued at $1,027,000 after buying an additional 1,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of DXP Enterprises by 18.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,856 shares of the industrial products company's stock valued at $399,000 after buying an additional 743 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of DXP Enterprises during the first quarter valued at $791,000. Diversify Advisory Services LLC purchased a new stake in shares of DXP Enterprises during the first quarter valued at $766,000. Finally, Jennison Associates LLC purchased a new stake in shares of DXP Enterprises during the first quarter valued at $629,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Stock Performance

DXPE stock traded up $0.03 during trading on Friday, reaching $124.88. The stock had a trading volume of 141,599 shares, compared to its average volume of 177,831. DXP Enterprises, Inc. has a 52 week low of $45.81 and a 52 week high of $127.19. The stock's 50 day moving average is $105.19 and its two-hundred day moving average is $91.69. The company has a current ratio of 2.79, a quick ratio of 2.33 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.96 billion, a PE ratio of 23.83 and a beta of 1.24.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its earnings results 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 company had revenue of $498.68 million for the quarter, compared to the consensus estimate of $499.00 million. As a group, equities analysts anticipate that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Buying and Selling

In other DXP Enterprises news, Director Karen Hoffman sold 2,399 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $125.00, for a total value of $299,875.00. Following the transaction, the director owned 4,787 shares of the company's stock, valued at approximately $598,375. This represents a 33.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Nicholas Little sold 45,938 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 812,328 shares in the company, valued at approximately $71,265,535.44. This represents a 5.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,337 shares of company stock valued at $6,431,516 in the last 90 days. Insiders own 22.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently 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).