Wellington Management Group LLP Purchases 109,151 Shares of DXP Enterprises, Inc. $DXPE

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 increased 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. The institutional investor owned 931,004 shares of the industrial products company's stock after acquiring an additional 109,151 shares during the period. Wellington Management Group LLP owned about 5.93% of DXP Enterprises worth $76,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. SummerHaven Investment Management LLC boosted its position in shares of DXP Enterprises by 0.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock worth $1,432,000 after acquiring an additional 142 shares in the last quarter. Algert Global LLC boosted its position in shares of DXP Enterprises by 2.6% during the 1st quarter. Algert Global LLC now owns 11,255 shares of the industrial products company's stock worth $926,000 after acquiring an additional 280 shares in the last quarter. CastleKnight Management LP boosted its position in shares of DXP Enterprises by 0.3% during the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock worth $9,691,000 after acquiring an additional 300 shares in the last quarter. CWM LLC boosted its position in shares of DXP Enterprises by 32.2% during the 1st quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after acquiring an additional 362 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of DXP Enterprises by 8.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,777 shares of the industrial products company's stock worth $557,000 after acquiring an additional 508 shares in the last quarter. Institutional investors and hedge funds own 74.82% of the company's stock.

Insider Activity

In other news, Director Karen Hoffman sold 2,399 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $125.00, for a total transaction of $299,875.00. Following the completion of the transaction, the director owned 4,787 shares of the company's stock, valued at approximately $598,375. This trade 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 is accessible through the SEC website. Also, insider Christopher T. Gregory sold 5,000 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 24,436 shares of the company's stock, valued at $2,981,192. The trade was a 16.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,337 shares of company stock valued at $6,431,516. 22.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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, According to data from MarketBeat.com, DXP Enterprises currently has an average rating of "Buy" and an average price target of $95.00.

DXP Enterprises Trading Up 0.7%

Shares of DXPE stock traded up $0.85 during trading hours on Thursday, hitting $125.03. 29,388 shares of the company's stock traded hands, compared to its average volume of 185,311. The stock's 50 day simple moving average is $103.41 and its 200 day simple moving average is $91.49. The stock has a market cap of $1.96 billion, a PE ratio of 23.85 and a beta of 1.25. DXP Enterprises, Inc. has a 12 month low of $45.81 and a 12 month high of $126.60. The company has a quick ratio of 2.33, a current ratio of 2.79 and a debt-to-equity ratio of 1.33.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.04. The firm had revenue of $498.68 million during 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%. On average, sell-side analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

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).