Truvestments Capital LLC Makes New Investment in DXP Enterprises, Inc. $DXPE

Key Points

• Truvestments Capital LLC acquired 7,160 shares of DXP Enterprises, valued at around $589,000, as part of their investment strategy in the first quarter.
• Institutional investors own approximately 74.82% of DXP Enterprises' stock, indicating significant interest from large financial entities.
• DXP Enterprises' COO sold over 45,000 shares for about $4 million, representing a decrease of 5.35% in their holdings, while insiders sold a total of 67,337 shares worth over $6.4 million in recent months.

Truvestments Capital LLC purchased a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,160 shares of the industrial products company's stock, valued at approximately $589,000.

Several other large investors also recently made changes to their positions in DXPE. Wells Fargo & Company MN boosted its holdings in shares of DXP Enterprises by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,397 shares of the industrial products company's stock valued at $611,000 after buying an additional 1,629 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of DXP Enterprises in the 4th quarter valued at approximately $1,037,000. MetLife Investment Management LLC boosted its holdings in shares of DXP Enterprises by 7.5% in the 4th quarter. MetLife Investment Management LLC now owns 7,737 shares of the industrial products company's stock valued at $639,000 after buying an additional 541 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of DXP Enterprises in the 4th quarter valued at approximately $208,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of DXP Enterprises by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,850 shares of the industrial products company's stock valued at $401,000 after buying an additional 735 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company's stock.

DXP Enterprises Stock Performance

DXP Enterprises stock traded down $4.70 during mid-day trading on Tuesday, hitting $120.18. 38,458 shares of the company's stock traded hands, compared to its average volume of 184,883. The firm has a 50 day simple moving average of $106.01 and a two-hundred day simple moving average of $91.85. DXP Enterprises, Inc. has a fifty-two week low of $45.81 and a fifty-two week high of $127.19. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 22.93 and a beta of 1.24. 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 announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating 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. On average, research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, COO Nicholas Little sold 45,938 shares of the stock in a transaction 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 transaction, the chief operating officer owned 812,328 shares in the company, valued at $71,265,535.44. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher T. Gregory sold 5,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the transaction, the insider owned 24,436 shares in the company, valued at $2,981,192. The trade was a 16.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,337 shares of company stock worth $6,431,516. 22.40% of the stock is currently owned by corporate insiders.

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).