DXP Enterprises, Inc. $DXPE Stock Position Reduced by Wasatch Advisors LP

Wasatch Advisors LP decreased its position in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 29.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 445,575 shares of the industrial products company's stock after selling 188,066 shares during the quarter. Wasatch Advisors LP owned 2.87% of DXP Enterprises worth $75,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in DXP Enterprises by 3,507.7% during the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company's stock worth $41,000 after purchasing an additional 456 shares during the last quarter. KBC Group NV bought a new stake in DXP Enterprises during the first quarter valued at $51,000. Clearstead Advisors LLC raised its holdings in shares of DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company's stock worth $54,000 after purchasing an additional 306 shares during the period. State of Wyoming acquired a new stake in shares of DXP Enterprises during the fourth quarter worth $152,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of DXP Enterprises in the 4th quarter worth about $154,000. 74.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Timothy P. Halter sold 6,842 shares of the firm's stock in a transaction 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 transaction, the director directly owned 30,000 shares of the company's stock, valued at approximately $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the sale, the chief marketing officer owned 590,262 shares in the company, valued at approximately $97,021,364.94. This 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 company insiders.

DXP Enterprises Stock Performance

Shares of NASDAQ DXPE opened at $195.00 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51. The stock has a 50 day simple moving average of $166.77 and a 200-day simple moving average of $153.32. The company has a market cap of $3.03 billion, a PE ratio of 34.33 and a beta of 0.98. DXP Enterprises, Inc. has a 12-month low of $84.04 and a 12-month high of $208.00.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.59 by $0.17. The firm had revenue of $576.46 million for the quarter, compared to analysts' expectations of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Stephens lifted their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a report on Friday. Freedom Capital lowered shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Wall Street Zen raised shares of DXP Enterprises from a "hold" rating to a "buy" rating in a report on Saturday. Zacks Research downgraded DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Finally, Weiss Ratings raised DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $187.00.

DXP Enterprises Profile

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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