HHM Wealth Advisors LLC Sells 3,178 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

Key Points

• HHM Wealth Advisors LLC reduced its stake in DXP Enterprises, Inc. by 16.1%, selling 3,178 shares during the first quarter, leaving them with 16,578 shares valued at approximately $1.36 million.
• COO Nicholas Little sold 45,938 shares of DXP Enterprises at an average price of $87.73, resulting in a decrease of 5.35% in his ownership, while CMO Paz Maestas sold 3,000 shares at $79.09.
• Wall Street analysts have downgraded DXP Enterprises from a "buy" to a "hold" rating amid its recent stock activity, while the company recently reported earnings of $1.26 per share, exceeding expectations.

HHM Wealth Advisors LLC decreased its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,578 shares of the industrial products company's stock after selling 3,178 shares during the quarter. HHM Wealth Advisors LLC owned about 0.11% of DXP Enterprises worth $1,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DXPE. CWM LLC boosted its holdings in shares of DXP Enterprises by 32.2% during the 1st quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after buying an additional 362 shares in the last quarter. Lazard Asset Management LLC bought a new position in DXP Enterprises during the fourth quarter worth $159,000. Hsbc Holdings PLC bought a new position in DXP Enterprises during the fourth quarter worth $208,000. Janney Montgomery Scott LLC acquired a new stake in DXP Enterprises in the first quarter worth $210,000. Finally, Pictet Asset Management Holding SA bought a new stake in DXP Enterprises in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 74.82% of the company's stock.

Insiders Place Their Bets

In other news, COO Nicholas Little sold 45,938 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following the completion of the sale, the chief operating officer directly owned 812,328 shares of the company's stock, valued at $71,265,535.44. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Paz Maestas sold 3,000 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $79.09, for a total transaction of $237,270.00. Following the completion of the sale, the chief marketing officer owned 607,737 shares in the company, valued at $48,065,919.33. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,938 shares of company stock worth $4,690,731 over the last ninety days. Insiders own 22.70% of the company's stock.

DXP Enterprises Stock Down 2.9%

NASDAQ:DXPE traded down $3.24 on Friday, hitting $110.02. The stock had a trading volume of 193,433 shares, compared to its average volume of 236,721. The company has a quick ratio of 2.25, a current ratio of 2.70 and a debt-to-equity ratio of 1.40. DXP Enterprises, Inc. has a 52 week low of $45.00 and a 52 week high of $115.00. The business's fifty day moving average is $90.29 and its 200 day moving average is $89.50. The company has a market cap of $1.73 billion, a PE 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. The company had revenue of $476.57 million for the quarter, compared to analysts' expectations of $477.00 million. On average, equities research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, May 16th.

About DXP Enterprises

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).