MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Position in DXP Enterprises, Inc. $DXPE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. sold 448,037 shares of DXP Enterprises, reducing its holding by 62.2% to ownership of 272,283 shares, valued at approximately $22.4 million.
• Several institutional investors, including Royal Bank of Canada and Nomura Holdings Inc., increased their stakes in DXP Enterprises during the first quarter, reflecting a growing interest in the company.
• DXP Enterprises reported earnings of $1.43 EPS for the quarter, beating analysts' estimates, although its revenue of $498.68 million fell slightly short of expectations.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 62.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,283 shares of the industrial products company's stock after selling 448,037 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.73% of DXP Enterprises worth $22,398,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of DXP Enterprises by 54.0% in the 1st 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 position in DXP Enterprises in the first quarter valued at about $210,000. Informed Momentum Co LLC bought a new position in DXP Enterprises in the first quarter worth about $1,731,000. Illinois Municipal Retirement Fund lifted its position in shares of 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 buying an additional 508 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 buying an additional 4,321 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company's stock.

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 5,000 shares of DXP Enterprises stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $120.11, for a total transaction of $600,550.00. Following the completion of the transaction, the chief marketing officer owned 600,737 shares in the company, valued at approximately $72,154,521.07. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Nicholas Little sold 45,938 shares of DXP Enterprises stock in a transaction that occurred 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 transaction, the chief operating officer owned 812,328 shares of the company's stock, valued at approximately $71,265,535.44. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,337 shares of company stock valued at $6,431,516 over the last quarter. Company insiders own 22.70% of the company's stock.

Analyst Upgrades and Downgrades

DXPE has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Singular Research upgraded shares of DXP Enterprises to a "moderate buy" rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DXP Enterprises currently has an average rating of "Buy" and a consensus target price of $95.00.

DXP Enterprises Stock Performance

NASDAQ:DXPE traded up $0.17 during trading hours on Friday, hitting $118.56. 72,088 shares of the company were exchanged, compared to its average volume of 183,833. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. DXP Enterprises, Inc. has a 52-week low of $48.45 and a 52-week high of $129.56. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 22.63 and a beta of 1.24. The company's 50 day moving average price is $111.27 and its 200-day moving average price is $93.23.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.39 by $0.04. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. The business had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million. As a group, research analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

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).