DXP Enterprises, Inc. $DXPE Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group reduced its DXP Enterprises stake by 18.8% in the first quarter, selling 14,340 shares and retaining 62,110 shares worth approximately $8.7 million. Institutional investors and hedge funds collectively own 74.82% of the company.
• DXP Enterprises reported quarterly earnings of $1.26 per share, missing the $1.38 consensus estimate, while revenue of $521.66 million also fell short of expectations. Shares opened at $168.94, near their 52-week high of $183.91.
• Several research firms recently downgraded the stock to “Hold,” although the consensus rating remains Moderate Buy with an average price target of $154—below the reported share price.

Principal Financial Group Inc. trimmed its position in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 18.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,110 shares of the industrial products company's stock after selling 14,340 shares during the period. Principal Financial Group Inc. owned 0.40% of DXP Enterprises worth $8,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DXPE. Danske Bank A S bought a new stake in shares of DXP Enterprises in the 4th quarter valued at approximately $4,864,000. SG Americas Securities LLC increased its stake in DXP Enterprises by 646.7% during the fourth quarter. SG Americas Securities LLC now owns 15,143 shares of the industrial products company's stock valued at $1,663,000 after purchasing an additional 13,115 shares during the last quarter. Nordea Investment Management AB bought a new stake in DXP Enterprises during the fourth quarter valued at $1,597,000. Diversify Wealth Management LLC acquired a new stake in shares of DXP Enterprises during the first quarter worth $1,226,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in shares of DXP Enterprises in the 4th quarter worth about $1,591,000. Institutional investors and hedge funds own 74.82% of the company's stock.

DXP Enterprises Stock Performance

Shares of DXPE opened at $168.94 on Monday. The firm has a fifty day moving average of $160.54 and a 200-day moving average of $148.66. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 31.58 and a beta of 0.97. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98. DXP Enterprises, Inc. has a 1 year low of $84.04 and a 1 year high of $183.91.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.12). The firm had revenue of $521.66 million during the quarter, compared to analyst estimates of $531.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%. As a group, equities analysts anticipate that DXP Enterprises, Inc. will post 6.2 earnings per share for the current year.

Insider Activity

In other news, Director Timothy P. Halter sold 6,842 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at approximately $4,247,700. The trade was a 18.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Paz Maestas sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares of the company's stock, valued at $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DXPE. Wall Street Zen downgraded shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Zacks Research cut shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings downgraded DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Finally, Freedom Capital lowered DXP Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, DXP Enterprises presently has a consensus rating of "Moderate Buy" and an average target price of $154.00.

About DXP Enterprises

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP's product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.

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