Rezny Wealth Management Inc. Purchases Shares of 17,588 DXP Enterprises, Inc. (NASDAQ:DXPE)

Key Points

• Rezny Wealth Management Inc. has made a new investment in DXP Enterprises, purchasing 17,588 shares valued at approximately $1.45 million, which represents 0.4% of its investment portfolio.
• A significant insider transaction occurred, with COO Nicholas Little selling 45,938 shares at an average price of $87.73, reducing his ownership by 5.35%.
• Analyst ratings for DXP Enterprises were recently downgraded from a "buy" to a "hold" by Wall Street Zen, reflecting changing market sentiments.

Rezny Wealth Management Inc. purchased a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,588 shares of the industrial products company's stock, valued at approximately $1,447,000. DXP Enterprises makes up approximately 0.4% of Rezny Wealth Management Inc.'s portfolio, making the stock its 27th largest holding. Rezny Wealth Management Inc. owned approximately 0.11% of DXP Enterprises as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of DXPE. Wellington Management Group LLP bought a new position in shares of DXP Enterprises in the fourth quarter worth about $67,901,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in DXP Enterprises by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company's stock valued at $59,513,000 after purchasing an additional 38,900 shares during the period. Northern Trust Corp increased its position in DXP Enterprises by 10.2% during the 4th quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company's stock valued at $18,915,000 after purchasing an additional 21,220 shares during the period. JPMorgan Chase & Co. increased its position in DXP Enterprises by 26.5% during the 4th quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company's stock valued at $10,244,000 after purchasing an additional 25,942 shares during the period. Finally, CastleKnight Management LP grew its position in shares of DXP Enterprises by 0.3% during the 4th 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. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Stock Up 5.8%

NASDAQ DXPE traded up $6.73 during mid-day trading on Tuesday, hitting $122.17. The company's stock had a trading volume of 173,380 shares, compared to its average volume of 188,448. The company's 50 day simple moving average is $93.64 and its 200 day simple moving average is $89.73. DXP Enterprises, Inc. has a twelve month low of $45.81 and a twelve month high of $122.46. 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 capitalization of $1.92 billion, a price-to-earnings ratio of 23.26 and a beta of 1.25.

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

Analyst Ratings Changes

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

Insider Activity

In other news, CMO Paz Maestas sold 2,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $81.16, for a total transaction of $162,320.00. Following the sale, the chief marketing officer directly owned 605,737 shares in the company, valued at $49,161,614.92. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Nicholas Little sold 45,938 shares of the company's stock in a transaction dated 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 sale, the chief operating officer owned 812,328 shares in the company, 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. Over the last ninety days, insiders have sold 53,938 shares of company stock worth $4,690,731. Insiders own 22.40% of the company's stock.

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).