Norges Bank Purchases New Shares in DXP Enterprises, Inc. (NASDAQ:DXPE)

Norges Bank purchased a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,100 shares of the industrial products company's stock, valued at approximately $669,000. Norges Bank owned approximately 0.05% of DXP Enterprises at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in DXP Enterprises by 26.5% during the 4th quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company's stock worth $10,244,000 after acquiring an additional 25,942 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in DXP Enterprises by 9.4% during the fourth quarter. WINTON GROUP Ltd now owns 8,101 shares of the industrial products company's stock worth $669,000 after purchasing an additional 698 shares during the last quarter. EntryPoint Capital LLC grew its position in DXP Enterprises by 41.8% in the fourth quarter. EntryPoint Capital LLC now owns 9,231 shares of the industrial products company's stock valued at $763,000 after purchasing an additional 2,720 shares in the last quarter. Prudential Financial Inc. increased its stake in DXP Enterprises by 96.2% in the 4th quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company's stock valued at $2,157,000 after buying an additional 12,800 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in DXP Enterprises during the 4th quarter worth about $231,000. 74.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DXPE has been the topic of several analyst reports. Stephens upped their target price on DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. StockNews.com downgraded DXP Enterprises from a "buy" rating to a "hold" rating in a report on Thursday, April 10th.

Insider Buying and Selling at DXP Enterprises

In related news, Director Timothy P. Halter sold 5,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $89.75, for a total value of $448,750.00. Following the transaction, the director now owns 45,925 shares in the company, valued at approximately $4,121,768.75. This represents a 9.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Paz Maestas sold 4,328 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total transaction of $385,365.12. Following the completion of the transaction, the chief marketing officer now directly owns 613,039 shares in the company, valued at approximately $54,584,992.56. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,785 shares of company stock worth $1,139,818 over the last ninety days. Insiders own 22.40% of the company's stock.

DXP Enterprises Stock Performance

Shares of DXPE stock traded up $0.62 on Thursday, reaching $80.19. The stock had a trading volume of 17,777 shares, compared to its average volume of 159,210. DXP Enterprises, Inc. has a 12 month low of $43.25 and a 12 month high of $107.06. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 20.67 and a beta of 1.29. The firm's 50-day moving average is $86.12 and its two-hundred day moving average is $78.70.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.49. The company had revenue of $470.91 million during the quarter, compared to analysts' expectations of $447.00 million. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. On average, research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

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).