DXP Enterprises, Inc. $DXPE Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in DXP Enterprises by 13.3% in the first quarter, owning 931,004 shares valued at approximately $76.6 million.
• Insider activity has seen significant sales, with COO Nicholas Little selling nearly 46,000 shares, resulting in a 5.35% decrease in his ownership.
• Despite a better-than-expected EPS report of $1.43, shares have been downgraded from "buy" to "hold" by equities research analysts.

Wellington Management Group LLP grew its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 13.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 931,004 shares of the industrial products company's stock after purchasing an additional 109,151 shares during the period. Wellington Management Group LLP owned 5.93% of DXP Enterprises worth $76,584,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DXPE. Wells Fargo & Company MN boosted its stake in shares of DXP Enterprises by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,397 shares of the industrial products company's stock worth $611,000 after purchasing an additional 1,629 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of DXP Enterprises during the 4th quarter worth about $1,037,000. MetLife Investment Management LLC boosted its stake in shares of DXP Enterprises by 7.5% during the 4th quarter. MetLife Investment Management LLC now owns 7,737 shares of the industrial products company's stock worth $639,000 after purchasing an additional 541 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of DXP Enterprises during the 4th quarter worth about $208,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of DXP Enterprises by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,850 shares of the industrial products company's stock worth $401,000 after acquiring an additional 735 shares during the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total transaction of $610,000.00. Following the sale, the insider owned 24,436 shares in the company, valued at $2,981,192. This trade represents a 16.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Nicholas Little sold 45,938 shares of DXP Enterprises stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,938 shares of company stock worth $5,880,781. Company insiders own 22.70% of the company's stock.

DXP Enterprises Price Performance

DXPE opened at $124.89 on Friday. DXP Enterprises, Inc. has a 1 year low of $45.81 and a 1 year high of $126.60. The company's 50 day simple moving average is $100.65 and its 200 day simple moving average is $91.03. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79. The stock has a market capitalization of $1.96 billion, a PE ratio of 23.83 and a beta of 1.25.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut 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, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $95.00.

DXP Enterprises Company 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).

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