Jennison Associates LLC Acquires Shares of 7,645 DXP Enterprises, Inc. (NASDAQ:DXPE)

Jennison Associates LLC acquired a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,645 shares of the industrial products company's stock, valued at approximately $629,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in DXP Enterprises by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,406 shares of the industrial products company's stock valued at $856,000 after acquiring an additional 3,649 shares during the period. Janney Montgomery Scott LLC purchased a new stake in DXP Enterprises during the first quarter valued at about $210,000. Illinois Municipal Retirement Fund grew its position in DXP Enterprises by 8.1% during the first quarter. Illinois Municipal Retirement Fund now owns 6,777 shares of the industrial products company's stock valued at $557,000 after acquiring an additional 508 shares during the period. Prudential Financial Inc. grew its position in DXP Enterprises by 96.2% during the fourth quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company's stock valued at $2,157,000 after acquiring an additional 12,800 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in DXP Enterprises by 14.9% during the fourth 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 acquiring an additional 4,321 shares during the period. Hedge funds and other institutional investors own 74.82% of the company's stock.

DXP Enterprises Stock Up 2.3%

Shares of DXPE stock traded up $2.42 during trading hours on Friday, reaching $108.17. The company had a trading volume of 223,019 shares, compared to its average volume of 244,097. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.25 and a current ratio of 2.70. DXP Enterprises, Inc. has a twelve month low of $45.00 and a twelve month high of $108.65. The company has a market capitalization of $1.70 billion, a P/E ratio of 22.49 and a beta of 1.16. The stock's fifty day simple moving average is $87.76 and its 200 day simple moving average is $88.81.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.06. DXP Enterprises had a net margin of 4.27% and a return on equity of 20.41%. The firm had revenue of $476.57 million for the quarter, compared to the consensus estimate of $477.00 million. As a group, sell-side analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In related news, COO Nicholas Little sold 45,938 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer owned 812,328 shares in the company, valued at approximately $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 can be accessed through this link. Also, CMO Paz Maestas sold 2,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $81.16, for a total value of $162,320.00. Following the completion of the transaction, the chief marketing officer owned 605,737 shares in the company, valued at approximately $49,161,614.92. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,938 shares of company stock worth $4,690,731 in the last ninety days. 22.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

DXP Enterprises Company 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).