American Century Companies Inc. Sells 202,224 Shares of DXP Enterprises, Inc. $DXPE

Key Points

• American Century Companies Inc. reduced its stake in DXP Enterprises by 30.9% in the first quarter, owning approximately 2.88% of the company after selling 202,224 shares.
• Institutional investors now hold 74.82% of DXP Enterprises, with significant activity from other large investors such as CWM LLC, which increased its stake by 32.2%.
• DXP Enterprises reported earnings of $1.43 per share, exceeding analysts' expectations, and has a current PE ratio of 21.93 and a market cap of $1.80 billion.

American Century Companies Inc. trimmed its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 451,728 shares of the industrial products company's stock after selling 202,224 shares during the period. American Century Companies Inc. owned about 2.88% of DXP Enterprises worth $37,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP purchased a new stake in shares of DXP Enterprises during the fourth quarter worth $67,901,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in DXP Enterprises by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company's stock valued at $59,513,000 after buying an additional 38,900 shares in the last quarter. Invesco Ltd. increased its stake in shares of 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. Northern Trust Corp increased its stake in shares of DXP Enterprises by 10.2% in the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company's stock worth $18,915,000 after purchasing an additional 21,220 shares during the period. Finally, CastleKnight Management LP increased its stake in shares of DXP Enterprises by 0.3% in the fourth quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock worth $9,691,000 after purchasing an additional 300 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Price Performance

NASDAQ DXPE traded down $0.58 during trading on Monday, reaching $124.31. 61,991 shares of the company traded hands, compared to its average volume of 186,457. 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's 50 day moving average price is $100.65 and its two-hundred day moving average price is $90.86. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 23.72 and a beta of 1.25. DXP Enterprises, Inc. has a 1-year low of $45.81 and a 1-year high of $126.60.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $498.68 million for 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 EPS for the current year.

Insiders Place Their Bets

In other news, CMO Paz Maestas sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the transaction, the chief marketing officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Nicholas Little sold 45,938 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was 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 $71,265,535.44. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,337 shares of company stock worth $6,431,516 over the last ninety days. 22.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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