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

Several other hedge funds also recently made changes to their positions in DXPE. CWM LLC increased its holdings in shares of DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after purchasing an additional 362 shares during the period. Lazard Asset Management LLC bought a new position in shares of DXP Enterprises during the fourth quarter worth approximately $159,000. Hsbc Holdings PLC bought a new position in shares of DXP Enterprises during the fourth quarter worth approximately $208,000. Janney Montgomery Scott LLC bought a new position in shares of DXP Enterprises during the first quarter worth approximately $210,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of DXP Enterprises by 3,657.9% during the first quarter. Harbor Capital Advisors Inc. now owns 2,856 shares of the industrial products company's stock worth $235,000 after purchasing an additional 2,780 shares during the period. 74.82% of the stock is owned by institutional investors.

DXP Enterprises Price Performance

DXP Enterprises stock traded up $1.77 during mid-day trading on Tuesday, reaching $125.40. The company had a trading volume of 134,132 shares, compared to its average volume of 185,670. The business has a fifty day simple moving average of $102.50 and a 200 day simple moving average of $91.26. The company has a market cap of $1.97 billion, a P/E ratio of 23.93 and a beta of 1.25. DXP Enterprises, Inc. has a fifty-two week low of $45.81 and a fifty-two week high of $126.60. The company has a current ratio of 2.79, a quick ratio of 2.33 and a debt-to-equity ratio of 1.33.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.04. The firm had revenue of $498.68 million for the quarter, compared to analysts' expectations of $499.00 million. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. On average, equities research analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Activity

In other DXP Enterprises news, CMO Paz Maestas sold 5,000 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $120.11, for a total transaction of $600,550.00. Following the sale, the chief marketing officer owned 600,737 shares of the company's stock, valued at approximately $72,154,521.07. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Nicholas Little sold 45,938 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following the sale, the chief operating officer directly owned 812,328 shares in the company, valued at approximately $71,265,535.44. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,337 shares of company stock valued at $6,431,516. 22.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of DXP Enterprises from a "buy" rating to a "hold" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company 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).