State of Wyoming Sells 7,352 Shares of DXP Enterprises, Inc. $DXPE

Key Points

• The State of Wyoming significantly reduced its holdings in DXP Enterprises, Inc. by 84.3%, now owning only 1,372 shares valued at approximately $113,000.
• Institutional investors control 74.82% of DXP Enterprises’ stock, with several firms, including SummerHaven Investment Management and CWM LLC, increasing their positions during the same period.
• Wall Street analysts recently downgraded DXP Enterprises from a "buy" to a "hold" rating, with a consensus price target of $95.00 despite the stock currently trading around $124.31.

State of Wyoming lessened its stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 84.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,372 shares of the industrial products company's stock after selling 7,352 shares during the quarter. State of Wyoming's holdings in DXP Enterprises were worth $113,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Trexquant Investment LP lifted its holdings in shares of DXP Enterprises by 57.4% in the first quarter. Trexquant Investment LP now owns 31,308 shares of the industrial products company's stock valued at $2,575,000 after purchasing an additional 11,412 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of DXP Enterprises in the first quarter valued at approximately $589,000. Hsbc Holdings PLC lifted its holdings in shares of DXP Enterprises by 73.7% in the first quarter. Hsbc Holdings PLC now owns 4,358 shares of the industrial products company's stock valued at $353,000 after purchasing an additional 1,849 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of DXP Enterprises in the first quarter valued at approximately $775,000. Finally, Wellington Management Group LLP lifted its holdings in shares of DXP Enterprises by 13.3% in the first quarter. Wellington Management Group LLP now owns 931,004 shares of the industrial products company's stock valued at $76,584,000 after purchasing an additional 109,151 shares in the last quarter. Institutional investors own 74.82% of the company's stock.

Wall Street Analyst Weigh In

DXPE has been the topic of a number of recent research reports. Wall Street Zen lowered DXP Enterprises from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Singular Research raised DXP Enterprises to a "moderate buy" rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $95.00.

DXP Enterprises Stock Performance

Shares of DXPE traded down $0.33 on Friday, reaching $118.06. 122,861 shares of the company's stock traded hands, compared to its average volume of 140,635. 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 stock has a market cap of $1.85 billion, a PE ratio of 22.53 and a beta of 1.24. The stock's 50 day simple moving average is $111.79 and its two-hundred day simple moving average is $93.44. DXP Enterprises, Inc. has a 52-week low of $48.45 and a 52-week high of $129.56.

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

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 5,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $120.11, for a total value of $600,550.00. Following the sale, the chief marketing officer directly owned 600,737 shares in the company, valued at $72,154,521.07. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Nicholas Little sold 45,938 shares of the business's stock in a transaction on 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 completion of the sale, the chief operating officer owned 812,328 shares in the company, valued at approximately $71,265,535.44. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,337 shares of company stock valued at $6,431,516. 22.70% of the stock is currently owned by 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).