New York State Common Retirement Fund Has $338,000 Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

Key Points

• The New York State Common Retirement Fund reduced its stake in DXP Enterprises, Inc. by 43.0%, holding 4,111 shares worth approximately $338,000 at the end of the last quarter.
• In the first quarter, significant institutional investment activity was noted as Alps Advisors and Envestnet Asset Management acquired new positions valued at $351,000 and $1,420,000, respectively.
• DXP Enterprises reported an EPS of $1.26 for the latest quarter, exceeding analysts' expectations, with a projected EPS of 4.07 for the current fiscal year.

New York State Common Retirement Fund trimmed its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 43.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,111 shares of the industrial products company's stock after selling 3,100 shares during the period. New York State Common Retirement Fund's holdings in DXP Enterprises were worth $338,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Alps Advisors Inc. acquired a new position in shares of DXP Enterprises in the first quarter valued at $351,000. Envestnet Asset Management Inc. acquired a new stake in DXP Enterprises during the first quarter worth approximately $1,420,000. Principal Financial Group Inc. increased its stake in shares of DXP Enterprises by 3.8% during the first quarter. Principal Financial Group Inc. now owns 74,229 shares of the industrial products company's stock worth $6,106,000 after purchasing an additional 2,728 shares during the period. Allspring Global Investments Holdings LLC increased its position in DXP Enterprises by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,406 shares of the industrial products company's stock worth $856,000 after buying an additional 3,649 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings 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 worth $557,000 after buying an additional 508 shares in the last quarter. Institutional investors own 74.82% of the company's stock.

DXP Enterprises Stock Performance

NASDAQ:DXPE opened at $108.17 on Friday. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 22.49 and a beta of 1.16. The stock has a fifty day moving average price of $87.76 and a 200-day moving average price of $88.84. DXP Enterprises, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $108.65. 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 (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. The company had revenue of $476.57 million during the quarter, compared to analysts' expectations of $477.00 million. As a group, equities analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 3,000 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $79.09, for a total transaction of $237,270.00. Following the sale, the chief marketing officer owned 607,737 shares of the company's stock, valued at approximately $48,065,919.33. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Nicholas Little sold 45,938 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following the transaction, the chief operating officer owned 812,328 shares of the company's stock, valued at $71,265,535.44. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 53,938 shares of company stock valued at $4,690,731. 22.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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).

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