Acadian Asset Management LLC Has $6.12 Million Stock Holdings in DXP Enterprises, Inc. $DXPE

Key Points

• Acadian Asset Management LLC has reduced its holdings in DXP Enterprises by 20%, now owning approximately 0.47% of the company, valued at around $6.1 million.
• DXP Enterprises reported earnings of $1.43 per share, surpassing analysts' expectations and projecting a return on equity of 20.94%, with a planned 4.07 earnings per share for the current year.
• Recent analyst ratings reflect mixed sentiments, with Wall Street Zen downgrading DXP from a "strong-buy" to a "buy," while Singular Research has upgraded it to a "moderate buy."

Acadian Asset Management LLC trimmed its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 20.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,387 shares of the industrial products company's stock after selling 18,590 shares during the quarter. Acadian Asset Management LLC owned about 0.47% of DXP Enterprises worth $6,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in DXP Enterprises by 13.3% in the 1st quarter. Wellington Management Group LLP now owns 931,004 shares of the industrial products company's stock worth $76,584,000 after buying an additional 109,151 shares in the last quarter. Invesco Ltd. lifted its position in DXP Enterprises by 22.6% in the first quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company's stock worth $23,068,000 after purchasing an additional 51,664 shares during the period. Millennium Management LLC lifted its position in DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock worth $10,608,000 after purchasing an additional 112,021 shares during the period. Sei Investments Co. lifted its position in DXP Enterprises by 3.0% in the first quarter. Sei Investments Co. now owns 92,330 shares of the industrial products company's stock worth $7,627,000 after purchasing an additional 2,663 shares during the period. Finally, Principal Financial Group Inc. lifted its position in DXP Enterprises by 3.8% in the first quarter. Principal Financial Group Inc. now owns 74,229 shares of the industrial products company's stock worth $6,106,000 after purchasing an additional 2,728 shares during the period. 74.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DXPE shares. Wall Street Zen downgraded DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Singular Research upgraded DXP Enterprises to a "moderate buy" rating in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, DXP Enterprises has an average rating of "Buy" and an average target price of $95.00.

Insider Buying and Selling

In other news, insider Christopher T. Gregory sold 5,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the completion of the sale, the insider owned 24,436 shares in the company, valued at $2,981,192. This represents a 16.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Paz Maestas sold 5,000 shares of the stock in a transaction on Monday, August 18th. The shares were 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. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,337 shares of company stock valued at $6,194,246. 22.70% of the stock is currently owned by company insiders.

DXP Enterprises Price Performance

Shares of NASDAQ:DXPE traded up $2.68 on Thursday, reaching $118.23. 175,693 shares of the company traded hands, compared to its average volume of 143,098. DXP Enterprises, Inc. has a fifty-two week low of $48.45 and a fifty-two week high of $129.56. The company's 50 day moving average is $113.83 and its 200-day moving average is $94.20. The stock has a market capitalization of $1.86 billion, a PE ratio of 22.56 and a beta of 1.24. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33.

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

DXP Enterprises 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).