Wellington Management Group LLP Sells 141,389 Shares of DXP Enterprises, Inc. $DXPE

Key Points

• Wellington Management reduced its DXP Enterprises stake by 14.6%, selling 141,389 shares during the second quarter. It still held 825,272 shares, or approximately 5.32% of the company, while institutional investors collectively owned 74.82%.
• Analyst sentiment remains positive overall, with three Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $187. Stephens raised its target to $220.
• DXP Enterprises exceeded quarterly expectations, reporting earnings of $1.76 per share versus the $1.59 consensus and revenue of $576.46 million versus estimates of $543 million. The stock opened at $187.73, near its 12-month high of $208.

Wellington Management Group LLP cut its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 14.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 825,272 shares of the industrial products company's stock after selling 141,389 shares during the quarter. Wellington Management Group LLP owned approximately 5.32% of DXP Enterprises worth $139,256,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of DXP Enterprises during the 2nd quarter worth approximately $33,000. KBC Group NV bought a new position in shares of DXP Enterprises in the first quarter valued at approximately $51,000. EverSource Wealth Advisors LLC grew its holdings in shares of DXP Enterprises by 3,507.7% in the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 456 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of DXP Enterprises by 164.5% during the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 306 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of DXP Enterprises during the fourth quarter valued at approximately $152,000. 74.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on DXPE shares. Zacks Research cut DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Stephens raised their target price on DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Freedom Capital cut DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Weiss Ratings cut DXP Enterprises from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 20th. Finally, Wall Street Zen raised shares of DXP Enterprises from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $187.00.

Insider Activity at DXP Enterprises

In other news, CMO Paz Maestas sold 10,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the transaction, the chief marketing officer owned 590,262 shares in the company, valued at approximately $97,021,364.94. This represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.00% of the stock is owned by corporate insiders.

DXP Enterprises Trading Up 1.0%

NASDAQ:DXPE opened at $187.73 on Tuesday. DXP Enterprises, Inc. has a 12 month low of $84.04 and a 12 month high of $208.00. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51. The firm's 50 day moving average is $174.37 and its 200 day moving average is $158.84. The stock has a market capitalization of $2.91 billion, a PE ratio of 33.05 and a beta of 0.98.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.The business had revenue of $576.46 million during the quarter, compared to analyst estimates of $543.00 million.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP's product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.

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