Envestnet Asset Management Inc. Purchases Shares of 17,258 DXP Enterprises, Inc. (NASDAQ:DXPE)

Envestnet Asset Management Inc. acquired a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,258 shares of the industrial products company's stock, valued at approximately $1,420,000. Envestnet Asset Management Inc. owned 0.11% of DXP Enterprises as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DXPE. SummerHaven Investment Management LLC boosted its holdings in DXP Enterprises by 0.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock worth $1,432,000 after acquiring an additional 142 shares during the last quarter. CastleKnight Management LP raised 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 valued at $9,691,000 after buying an additional 300 shares during the period. Sterling Capital Management LLC raised its stake in shares of DXP Enterprises by 4.4% during the 4th quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company's stock valued at $633,000 after purchasing an additional 326 shares during the period. Federated Hermes Inc. raised its stake in shares of DXP Enterprises by 4.7% during the 4th quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company's stock valued at $927,000 after purchasing an additional 502 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in shares of DXP Enterprises by 8.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,777 shares of the industrial products company's stock valued at $557,000 after purchasing an additional 508 shares during the period. Institutional investors and hedge funds own 74.82% of the company's stock.

Insider Activity at DXP Enterprises

In other news, CMO Paz Maestas sold 3,000 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $79.09, for a total value of $237,270.00. Following the transaction, the chief marketing officer directly owned 607,737 shares in the company, valued at $48,065,919.33. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Nicholas Little sold 45,938 shares of the firm's stock in a transaction 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 owned 812,328 shares in the company, valued at approximately $71,265,535.44. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,938 shares of company stock valued at $4,690,731 in the last three months. Corporate insiders own 22.70% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

DXP Enterprises Price Performance

Shares of DXPE traded down $3.24 during midday trading on Friday, reaching $110.02. The stock had a trading volume of 193,433 shares, compared to its average volume of 236,721. The company's 50-day moving average is $89.77 and its 200 day moving average is $89.47. DXP Enterprises, Inc. has a 12-month low of $45.00 and a 12-month high of $115.00. The company has a current ratio of 2.70, a quick ratio of 2.25 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 22.87 and a beta of 1.25.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.06. The company had revenue of $476.57 million during the quarter, compared to analysts' expectations of $477.00 million. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. On average, equities analysts predict that DXP Enterprises, Inc. will post 4.07 EPS 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).