Townsquare Capital LLC Acquires Shares of 10,070 DXP Enterprises, Inc. $DXPE

Key Points

• Townsquare Capital LLC invested approximately $828,000 in DXP Enterprises, acquiring 10,070 shares in the first quarter, representing about 0.06% ownership of the company.
• Hedge funds and institutional investors collectively own 74.82% of DXP Enterprises, indicating strong institutional confidence in the company.
• The company reported $1.43 EPS for the latest quarter, exceeding analysts' expectations, with a revenue of $498.68 million.

Townsquare Capital LLC bought a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 10,070 shares of the industrial products company's stock, valued at approximately $828,000. Townsquare Capital LLC owned approximately 0.06% of DXP Enterprises at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in DXP Enterprises by 32.2% during the 1st quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after acquiring an additional 362 shares in the last quarter. Lazard Asset Management LLC bought a new position in DXP Enterprises during the 4th quarter worth about $159,000. Hsbc Holdings PLC bought a new position in DXP Enterprises during the 4th quarter worth about $208,000. Janney Montgomery Scott LLC bought a new position in DXP Enterprises during the 1st quarter worth about $210,000. Finally, Harbor Capital Advisors Inc. grew its holdings in DXP Enterprises by 3,657.9% during the 1st quarter. Harbor Capital Advisors Inc. now owns 2,856 shares of the industrial products company's stock worth $235,000 after acquiring an additional 2,780 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

DXP Enterprises Stock Down 4.5%

Shares of DXP Enterprises stock traded down $5.46 on Tuesday, reaching $116.06. The stock had a trading volume of 124,318 shares, compared to its average volume of 187,677. The company has a 50 day moving average price of $97.53 and a 200 day moving average price of $90.38. The company has a quick ratio of 2.33, a current ratio of 2.79 and a debt-to-equity ratio of 1.33. DXP Enterprises, Inc. has a 1 year low of $45.81 and a 1 year high of $123.63. The stock has a market capitalization of $1.82 billion, a P/E ratio of 22.15 and a beta of 1.25.

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

Insider Buying and Selling

In related news, insider Christopher T. Gregory sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on 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 directly owned 24,436 shares in the company, valued at $2,981,192. This trade represents a 16.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Nicholas Little sold 45,938 shares of DXP Enterprises stock in a transaction that occurred 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 completion of the sale, 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. Insiders sold 63,938 shares of company stock worth $5,901,281 in the last three months. Corporate insiders own 22.40% 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).