Odyssean LLC Purchases 8,340 Shares of DXP Enterprises, Inc. $DXPE

Key Points

• Odyssean LLC nearly doubled its DXP Enterprises position in the second quarter, purchasing 8,340 additional shares to own 17,000 shares valued at approximately $2.87 million. Institutional investors collectively hold 74.82% of the company.
• DXP Enterprises reported quarterly EPS of $1.76, beating estimates of $1.59, while revenue of $576.46 million exceeded the $543 million consensus forecast.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $187; however, some firms recently downgraded the stock to “Hold.”

Odyssean LLC lifted its position in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 96.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the industrial products company's stock after purchasing an additional 8,340 shares during the quarter. Odyssean LLC owned 0.11% of DXP Enterprises worth $2,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DXPE. Royal Bank of Canada increased its holdings in DXP Enterprises by 29.4% in the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company's stock valued at $417,000 after buying an additional 1,153 shares during the period. Millennium Management LLC lifted its holdings in shares of DXP Enterprises by 661.5% during the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock worth $10,608,000 after acquiring an additional 112,021 shares during the period. Jane Street Group LLC lifted its holdings in shares of DXP Enterprises by 433.8% during the 1st quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company's stock worth $4,850,000 after acquiring an additional 47,909 shares during the period. JPMorgan Chase & Co. increased its stake in DXP Enterprises by 9.5% in the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company's stock valued at $5,874,000 after acquiring an additional 5,820 shares during the period. Finally, Russell Investments Group Ltd. raised its position in DXP Enterprises by 19.3% in the second quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company's stock worth $412,000 after purchasing an additional 761 shares in the last quarter. 74.82% of the stock is owned by institutional investors.

Insider Activity

In related news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares of the company's stock, valued at $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 22.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stephens lifted their price objective on DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Weiss Ratings cut DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 20th. Zacks Research lowered DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Freedom Capital cut DXP Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of DXP Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $187.00.

DXP Enterprises Stock Up 1.5%

NASDAQ DXPE opened at $184.00 on Friday. The firm has a market cap of $2.86 billion, a PE ratio of 32.39 and a beta of 1.02. DXP Enterprises, Inc. has a one year low of $84.04 and a one year high of $208.00. The stock's 50 day simple moving average is $175.69 and its 200 day simple moving average is $159.76. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.58.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.17. The firm had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.

About DXP Enterprises

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP's product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.

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