Jacobs Levy Equity Management Inc. Invests $1.33 Million in DXP Enterprises, Inc. $DXPE

Key Points

• Jacobs Levy Equity Management Inc. acquired a stake of 16,190 shares in DXP Enterprises, Inc., worth approximately $1,332,000, representing about 0.10% of the company's stock.
• As of now, institutional investors and hedge funds collectively own 74.82% of DXP Enterprises, indicating significant institutional interest in the company.
• Recent analyst ratings show a shift with Wall Street Zen lowering the stock to a "hold" while also noting that DXP Enterprises has an average target price of $95.00.

Jacobs Levy Equity Management Inc. purchased a new position in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,190 shares of the industrial products company's stock, valued at approximately $1,332,000. Jacobs Levy Equity Management Inc. owned about 0.10% of DXP Enterprises at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of DXP Enterprises by 29.4% during the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock valued at $417,000 after purchasing an additional 1,153 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of DXP Enterprises during the 1st quarter valued at $5,831,000. Trexquant Investment LP grew its holdings in shares of DXP Enterprises by 57.4% during the 1st quarter. Trexquant Investment LP now owns 31,308 shares of the industrial products company's stock valued at $2,575,000 after purchasing an additional 11,412 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of DXP Enterprises during the 1st quarter valued at $589,000. Finally, Hsbc Holdings PLC grew its holdings in shares of DXP Enterprises by 73.7% during the 1st quarter. Hsbc Holdings PLC now owns 4,358 shares of the industrial products company's stock valued at $353,000 after purchasing an additional 1,849 shares during the last quarter. Institutional investors own 74.82% of the company's stock.

Insiders Place Their Bets

In other DXP Enterprises news, Director Karen Hoffman sold 2,399 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $125.00, for a total value of $299,875.00. Following the sale, the director owned 4,787 shares of the company's stock, valued at $598,375. This trade represents a 33.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Jay Jeffery sold 2,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $125.43, for a total transaction of $250,860.00. Following the completion of the sale, the senior vice president directly owned 20,008 shares of the company's stock, valued at approximately $2,509,603.44. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,337 shares of company stock worth $6,431,516. 22.70% of the stock is currently owned by insiders.

DXP Enterprises Trading Down 0.3%

DXP Enterprises stock traded down $0.33 during trading hours on Friday, reaching $118.06. The stock had a trading volume of 122,861 shares, compared to its average volume of 140,635. The stock has a market cap of $1.85 billion, a PE ratio of 22.53 and a beta of 1.24. DXP Enterprises, Inc. has a 52 week low of $48.45 and a 52 week high of $129.56. 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 company has a fifty day simple moving average of $111.79 and a 200-day simple moving average of $93.49.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.04. The business 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%. Analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Analyst Ratings Changes

DXPE has been the topic of several recent research reports. Singular Research raised shares of DXP Enterprises to a "moderate buy" rating in a report on Tuesday, September 9th. Wall Street Zen lowered shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $95.00.

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).