Public Sector Pension Investment Board Purchases 8,720 Shares of DXP Enterprises, Inc. $DXPE

Key Points

• The Public Sector Pension Investment Board increased its stake in DXP Enterprises, Inc. by 27.6% during the first quarter, owning approximately 0.26% of the company worth $3.32 million.
• Several institutional investors, including CWM LLC and Harbor Capital Advisors Inc., have also significantly altered their positions in DXP Enterprises, resulting in over 74.82% of the stock being held by institutional investors.
• Wall Street analysts downgraded DXP Enterprises from a "buy" to a "hold" rating, reflecting a cautious outlook on the company's performance.

Public Sector Pension Investment Board lifted its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 27.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,367 shares of the industrial products company's stock after purchasing an additional 8,720 shares during the quarter. Public Sector Pension Investment Board owned 0.26% of DXP Enterprises worth $3,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its stake in DXP Enterprises by 0.8% during the first 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 during the period. CastleKnight Management LP boosted its stake in DXP Enterprises by 0.3% during the fourth quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock worth $9,691,000 after buying an additional 300 shares during the period. CWM LLC boosted its stake in DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after buying an additional 362 shares during the period. Illinois Municipal Retirement Fund boosted its stake in 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 during the period. Finally, MetLife Investment Management LLC boosted its stake in DXP Enterprises by 7.5% during the fourth quarter. MetLife Investment Management LLC now owns 7,737 shares of the industrial products company's stock worth $639,000 after buying an additional 541 shares during the period. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Trading Up 7.5%

Shares of NASDAQ:DXPE traded up $8.70 on Friday, hitting $124.89. 255,595 shares of the company's stock were exchanged, compared to its average volume of 187,246. DXP Enterprises, Inc. has a 12 month low of $45.81 and a 12 month high of $126.60. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 23.83 and a beta of 1.25. The business's 50 day simple moving average is $99.68 and its two-hundred day simple moving average is $90.85. 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 (NASDAQ:DXPE - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.04. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The business had revenue of $498.68 million during the quarter, compared to the consensus estimate of $499.00 million. Analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $95.00.

Insider Transactions at DXP Enterprises

In related news, SVP John Jay Jeffery sold 2,000 shares of DXP Enterprises stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $120.25, for a total value of $240,500.00. Following the completion of the sale, the senior vice president directly owned 24,008 shares in the company, valued at $2,886,962. The trade was a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total value of $610,000.00. Following the completion of the sale, the insider owned 24,436 shares of the company's stock, valued at $2,981,192. The trade was a 16.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,938 shares of company stock valued at $5,880,781. Insiders own 22.70% of the company's stock.

About DXP Enterprises

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).