Globeflex Capital L P Has $5.04 Million Holdings in DXP Enterprises, Inc. $DXPE

Key Points

• Globeflex Capital L P reduced its stake in DXP Enterprises by 12% in the fourth quarter, leaving it with 45,919 shares valued at about $5.04 million.
• Insider selling increased, with Director Timothy P. Halter and Director Joseph R. Mannes both selling shares in recent transactions that lowered their ownership positions.
• Analyst sentiment is mixed but constructive: the stock carries a “Moderate Buy” consensus rating with a $154 price target, even though the company recently missed quarterly EPS and revenue estimates.

Globeflex Capital L P cut its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 12.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,919 shares of the industrial products company's stock after selling 6,257 shares during the period. Globeflex Capital L P owned approximately 0.29% of DXP Enterprises worth $5,041,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of DXPE. Royal Bank of Canada grew its stake in shares of DXP Enterprises by 29.4% in the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock valued at $417,000 after acquiring an additional 1,153 shares in the last quarter. Millennium Management LLC grew its stake in shares of DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock valued at $10,608,000 after acquiring an additional 112,021 shares in the last quarter. Jane Street Group LLC grew its stake in DXP Enterprises by 433.8% during the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company's stock worth $4,850,000 after buying an additional 47,909 shares in the last quarter. JPMorgan Chase & Co. grew its stake in DXP Enterprises by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company's stock worth $5,874,000 after buying an additional 5,820 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in DXP Enterprises by 19.3% during the second quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company's stock worth $412,000 after buying an additional 761 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DXPE. Wall Street Zen upgraded shares of DXP Enterprises from a "hold" rating to a "buy" rating in a research note on Sunday, May 24th. Zacks Research downgraded shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of DXP Enterprises in a research note on Friday, May 22nd. Freedom Capital downgraded shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Finally, Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $154.00.

Insider Transactions at DXP Enterprises

In other news, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $141.59, for a total value of $968,758.78. Following the completion of the transaction, the director owned 30,000 shares of the company's stock, valued at approximately $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the transaction, the director directly owned 13,964 shares of the company's stock, valued at $1,926,333.80. This trade represents a 9.70% decrease in their position. The SEC filing for this sale provides additional information. 22.70% of the stock is currently owned by corporate insiders.

DXP Enterprises Stock Up 3.9%

DXPE stock opened at $161.30 on Friday. The stock has a market capitalization of $2.50 billion, a P/E ratio of 30.15 and a beta of 0.99. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. DXP Enterprises, Inc. has a 12 month low of $75.58 and a 12 month high of $183.91. The firm has a 50-day moving average price of $152.05 and a 200-day moving average price of $132.65.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its earnings results on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.12). The company had revenue of $521.66 million during the quarter, compared to the consensus estimate 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 research analysts anticipate that DXP Enterprises, Inc. will post 6.2 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.