DXP Enterprises, Inc. $DXPE Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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. lowered its stake 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 filing with the SEC. The fund 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 1.73% of DXP Enterprises worth $22,398,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its position in shares of DXP Enterprises by 0.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company's stock worth $1,432,000 after buying an additional 142 shares in the last quarter. Algert Global LLC grew its position in shares of DXP Enterprises by 2.6% during the 1st quarter. Algert Global LLC now owns 11,255 shares of the industrial products company's stock worth $926,000 after buying an additional 280 shares in the last quarter. CWM LLC grew its position in shares of DXP Enterprises by 32.2% during the 1st quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after buying an additional 362 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of DXP Enterprises by 8.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,777 shares of the industrial products company's stock worth $557,000 after buying an additional 508 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of DXP Enterprises by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,850 shares of the industrial products company's stock worth $401,000 after buying an additional 735 shares in the last quarter. Institutional investors own 74.82% of the company's stock.

DXP Enterprises Stock Performance

Shares of DXPE stock traded down $0.33 during mid-day trading on Friday, reaching $118.06. The stock had a trading volume of 122,861 shares, compared to its average volume of 140,635. The business's fifty day moving average is $111.79 and its 200-day moving average is $93.46. The company has a current ratio of 2.79, a quick ratio of 2.33 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 22.53 and a beta of 1.24. DXP Enterprises, Inc. has a 1-year low of $48.45 and a 1-year high of $129.56.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, beating 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 return on equity of 20.94% and a net margin of 4.52%. On average, research analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Analyst Ratings Changes

DXPE has been the subject of a number of analyst reports. Wall Street Zen cut DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Singular Research upgraded DXP Enterprises to a "moderate buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, DXP Enterprises presently has an average rating of "Buy" and an average price target of $95.00.

Insider Activity at DXP Enterprises

In related news, SVP John Jay Jeffery sold 2,000 shares of DXP Enterprises stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 20,008 shares in the company, valued at approximately $2,509,603.44. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 of the company's stock, valued at approximately $2,981,192. This represents a 16.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,337 shares of company stock valued at $6,431,516 in the last 90 days. 22.70% of the stock is currently owned by corporate insiders.

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).