Informed Momentum Co LLC Acquires New Holdings in DXP Enterprises, Inc. (NASDAQ:DXPE)

Key Points

• Informed Momentum Co LLC has acquired a new stake in DXP Enterprises, purchasing 21,046 shares valued at approximately $1.73 million.
• Several other hedge funds have significantly increased their positions in DXP Enterprises, with Wellington Management Group LLP acquiring a new position worth about $67.9 million during the fourth quarter.
• Insider transactions include COO Nicholas Little selling 45,938 shares for over $4 million, indicating notable insider trading activity at DXP Enterprises.

Informed Momentum Co LLC purchased a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,046 shares of the industrial products company's stock, valued at approximately $1,731,000. Informed Momentum Co LLC owned about 0.13% of DXP Enterprises as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of DXP Enterprises by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,406 shares of the industrial products company's stock worth $856,000 after purchasing an additional 3,649 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in DXP Enterprises in the 1st quarter valued at $210,000. Illinois Municipal Retirement Fund grew its stake in DXP Enterprises by 8.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,777 shares of the industrial products company's stock valued at $557,000 after buying an additional 508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in DXP Enterprises by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,293 shares of the industrial products company's stock valued at $2,751,000 after buying an additional 4,321 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in DXP Enterprises by 26.6% in the 4th quarter. Bank of America Corp DE now owns 22,695 shares of the industrial products company's stock valued at $1,875,000 after buying an additional 4,762 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other DXP Enterprises news, COO Nicholas Little sold 45,938 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $87.73, for a total value of $4,030,140.74. Following the sale, the chief operating officer directly owned 812,328 shares in the company, valued at $71,265,535.44. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Paz Maestas sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $81.16, for a total transaction of $162,320.00. Following the completion of the sale, the chief marketing officer owned 605,737 shares in the company, valued at $49,161,614.92. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,938 shares of company stock worth $5,300,731 in the last ninety days. Insiders own 22.70% of the company's stock.

DXP Enterprises Stock Performance

NASDAQ:DXPE traded down $1.80 during midday trading on Friday, reaching $116.96. The stock had a trading volume of 107,343 shares, compared to its average volume of 234,317. DXP Enterprises, Inc. has a 1-year low of $45.81 and a 1-year high of $123.63. The firm's fifty day simple moving average is $96.71 and its 200-day simple moving average is $90.33. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The stock has a market capitalization of $1.84 billion, a P/E ratio of 22.32 and a beta of 1.25.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.04. The company had revenue of $498.68 million for the quarter, compared to analyst estimates 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 forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

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).