DXP Enterprises (NASDAQ:DXPE) SVP John Jay Jeffery Sells 2,000 Shares

Key Points

• DXP Enterprises SVP John Jay Jeffery sold 2,000 shares at $120.25 each, totaling $240,500, which resulted in a 7.69% decrease in his ownership of the company's stock.
• The stock price traded down by 4.5% recently, with shares hitting $116.06 and a market cap of $1.82 billion.
• Institutional investors have made significant changes in their holdings, with EverSource Wealth Advisors increasing their stake by 3,507.7% in the second quarter.

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) SVP John Jay Jeffery sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $120.25, for a total value of $240,500.00. Following the completion of the sale, the senior vice president directly owned 24,008 shares of the company's stock, valued at $2,886,962. The trade was a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

DXP Enterprises Stock Performance

DXP Enterprises stock traded up $8.70 during trading on Friday, hitting $124.89. The stock had a trading volume of 255,595 shares, compared to its average volume of 192,581. DXP Enterprises, Inc. has a 1 year low of $45.81 and a 1 year high of $126.60. The company has a quick ratio of 2.33, a current ratio of 2.79 and a debt-to-equity ratio of 1.33. The stock's 50 day moving average is $100.65 and its two-hundred day moving average is $90.86. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 23.83 and a beta of 1.25.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DXPE. Wellington Management Group LLP bought a new position in shares of DXP Enterprises during the 4th quarter valued at approximately $67,901,000. Laurel Wealth Advisors LLC increased its stake in DXP Enterprises by 8,665.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 122,710 shares of the industrial products company's stock worth $10,756,000 after acquiring an additional 121,310 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of DXP Enterprises by 661.5% in the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company's stock worth $10,608,000 after purchasing an additional 112,021 shares during the period. American Century Companies Inc. boosted its holdings in shares of DXP Enterprises by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company's stock worth $49,278,000 after purchasing an additional 110,482 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in shares of DXP Enterprises during the 1st quarter worth approximately $5,831,000. 74.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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).