Victory Capital Management Inc. Increases Holdings in DXP Enterprises, Inc. (NASDAQ:DXPE)

Key Points

• Victory Capital Management Inc. increased its holdings in DXP Enterprises by 113.3% during the first quarter, now owning 41,377 shares valued at approximately $3.4 million.
• Several large investors, including CWM LLC and Pictet Asset Management, have also recently purchased shares, leading to 74.82% of the company's stock being held by institutional investors.
• Wall Street analysts downgraded DXP Enterprises from a "buy" to a "hold" rating, reflecting a shift in investor sentiment towards the company.

Victory Capital Management Inc. raised its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 113.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,377 shares of the industrial products company's stock after buying an additional 21,978 shares during the period. Victory Capital Management Inc. owned about 0.26% of DXP Enterprises worth $3,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. SummerHaven Investment Management LLC increased its position in shares of 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 purchasing an additional 142 shares in the last quarter. CastleKnight Management LP increased its position in shares of 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 purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of DXP Enterprises by 4.4% during the fourth quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company's stock worth $633,000 after purchasing an additional 326 shares in the last quarter. CWM LLC increased its position in shares of 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 purchasing an additional 362 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of DXP Enterprises by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company's stock worth $927,000 after purchasing an additional 502 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

DXP Enterprises Stock Performance

Shares of NASDAQ DXPE traded up $0.40 during midday trading on Thursday, reaching $112.24. 33,525 shares of the company were exchanged, compared to its average volume of 185,996. The company has a current ratio of 2.70, a quick ratio of 2.25 and a debt-to-equity ratio of 1.40. DXP Enterprises, Inc. has a 1 year low of $45.00 and a 1 year high of $115.00. The stock has a fifty day simple moving average of $89.18 and a 200 day simple moving average of $89.31. The stock has a market cap of $1.76 billion, a P/E ratio of 23.38 and a beta of 1.16.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.06. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. The firm had revenue of $476.57 million for the quarter, compared to analyst estimates of $477.00 million. On average, research 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, 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 value of $4,030,140.74. Following the sale, the chief operating officer owned 812,328 shares of the company's stock, valued at approximately $71,265,535.44. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Paz Maestas sold 3,000 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $79.09, for a total value of $237,270.00. Following the completion of the sale, the chief marketing officer directly owned 607,737 shares in the company, valued at $48,065,919.33. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,938 shares of company stock worth $4,690,731. Corporate insiders own 22.70% of the company's stock.

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).