King Luther Capital Management Corp trimmed its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,248 shares of the industrial products company's stock after selling 30,715 shares during the quarter. King Luther Capital Management Corp owned approximately 0.88% of DXP Enterprises worth $11,372,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in DXPE. Virtu Financial LLC acquired a new position in DXP Enterprises during the 1st quarter valued at about $286,000. Invesco Ltd. boosted its stake in DXP Enterprises by 22.6% during the 1st quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company's stock valued at $23,068,000 after purchasing an additional 51,664 shares during the period. Townsquare Capital LLC acquired a new position in DXP Enterprises during the 1st quarter valued at about $828,000. Rezny Wealth Management Inc. acquired a new position in DXP Enterprises during the 1st quarter valued at about $1,447,000. Finally, Federated Hermes Inc. increased its stake in DXP Enterprises by 11.3% during the 1st quarter. Federated Hermes Inc. now owns 12,486 shares of the industrial products company's stock valued at $1,027,000 after buying an additional 1,266 shares during the period. 74.82% of the stock is currently owned by institutional investors.
DXP Enterprises Stock Down 2.1%
NASDAQ DXPE traded down $2.51 during trading hours on Wednesday, reaching $119.78. 187,274 shares of the company's stock were exchanged, compared to its average volume of 258,340. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 22.86 and a beta of 1.25. DXP Enterprises, Inc. has a one year low of $45.81 and a one year high of $123.63. The company's 50-day moving average is $95.26 and its two-hundred day moving average is $90.16. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79.
DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.39 by $0.04. The company had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%. On average, analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut shares of DXP Enterprises from a "buy" rating to a "hold" rating in a report on Friday, May 16th.
Read Our Latest Analysis on DXP Enterprises
Insider Buying and Selling at DXP Enterprises
In related news, insider Christopher T. Gregory sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the transaction, the insider owned 24,436 shares in the company, valued at approximately $2,981,192. This trade represents a 16.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Paz Maestas sold 2,000 shares of DXP Enterprises stock in a transaction dated Tuesday, June 24th. The shares were 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 represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,938 shares of company stock valued at $5,300,731 in the last quarter. 22.70% of the stock is currently owned by insiders.
About DXP Enterprises
(
Free Report)
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).
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