State of Tennessee Department of Treasury Cuts Stock Holdings in DXP Enterprises, Inc. (NASDAQ:DXPE)

State of Tennessee Department of Treasury trimmed its stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 46.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,682 shares of the industrial products company's stock after selling 5,889 shares during the period. State of Tennessee Department of Treasury's holdings in DXP Enterprises were worth $552,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DXPE. Global Retirement Partners LLC boosted its stake in DXP Enterprises by 2,220.0% in the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company's stock worth $29,000 after purchasing an additional 333 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in DXP Enterprises by 3,150.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 504 shares in the last quarter. Longboard Asset Management LP purchased a new stake in DXP Enterprises during the 4th quarter valued at $216,000. Pictet Asset Management Holding SA purchased a new position in shares of DXP Enterprises in the fourth quarter worth $218,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of DXP Enterprises during the fourth quarter valued at $224,000. Institutional investors own 74.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DXPE shares. Stephens raised their price target on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, March 10th. StockNews.com lowered shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th.

Insiders Place Their Bets

In other news, CEO David R. Little bought 5,999 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average cost of $82.70 per share, with a total value of $496,117.30. Following the acquisition, the chief executive officer now owns 1,257,593 shares of the company's stock, valued at $104,002,941.10. The trade was a 0.48 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy P. Halter sold 5,000 shares of DXP Enterprises stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $89.75, for a total transaction of $448,750.00. Following the transaction, the director now directly owns 45,925 shares in the company, valued at $4,121,768.75. This represents a 9.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,785 shares of company stock worth $1,139,818 over the last quarter. 22.40% of the stock is currently owned by corporate insiders.

DXP Enterprises Stock Performance

Shares of DXP Enterprises stock traded down $0.14 during trading hours on Tuesday, reaching $91.15. 64,390 shares of the stock traded hands, compared to its average volume of 161,227. DXP Enterprises, Inc. has a one year low of $43.25 and a one year high of $107.06. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 23.49 and a beta of 1.26. 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 company has a 50 day moving average price of $82.86 and a 200 day moving average price of $81.98.

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

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).