Arizona State Retirement System trimmed its position in DXP Enterprises Inc (NASDAQ:DXPE) by 8.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,000 shares of the industrial products company’s stock after selling 2,000 shares during the period. Arizona State Retirement System owned approximately 0.13% of DXP Enterprises worth $879,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of DXPE. SG Americas Securities LLC boosted its stake in DXP Enterprises by 65.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,684 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 1,845 shares during the last quarter. Engineers Gate Manager LP purchased a new position in DXP Enterprises in the second quarter valued at approximately $379,000. Rice Hall James & Associates LLC lifted its stake in DXP Enterprises by 9.0% in the second quarter. Rice Hall James & Associates LLC now owns 51,613 shares of the industrial products company’s stock valued at $1,972,000 after purchasing an additional 4,276 shares during the last quarter. Algert Global LLC purchased a new position in DXP Enterprises in the second quarter valued at approximately $905,000. Finally, Hood River Capital Management LLC lifted its stake in DXP Enterprises by 8.6% in the second quarter. Hood River Capital Management LLC now owns 619,635 shares of the industrial products company’s stock valued at $23,670,000 after purchasing an additional 49,196 shares during the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.
Shares of DXP Enterprises stock traded down $0.17 during trading on Friday, hitting $38.65. The stock had a trading volume of 67,294 shares, compared to its average volume of 98,771. The stock has a market cap of $696.70 million, a P/E ratio of 44.94 and a beta of 2.57. DXP Enterprises Inc has a 12 month low of $24.89 and a 12 month high of $49.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 2.57.
DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Tuesday, August 7th. The industrial products company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.36. The business had revenue of $311.23 million for the quarter, compared to analysts’ expectations of $287.10 million. DXP Enterprises had a return on equity of 8.83% and a net margin of 2.31%. Sell-side analysts predict that DXP Enterprises Inc will post 1.5 earnings per share for the current year.
In related news, CEO David R. Little sold 50,000 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $48.41, for a total value of $2,420,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David C. Vinson sold 4,000 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $48.00, for a total value of $192,000.00. Following the completion of the transaction, the vice president now directly owns 6,563 shares in the company, valued at approximately $315,024. The disclosure for this sale can be found here. In the last three months, insiders sold 59,000 shares of company stock worth $2,829,250. 9.20% of the stock is owned by insiders.
A number of brokerages have issued reports on DXPE. BidaskClub cut shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Friday, August 31st. ValuEngine raised shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Finally, Zacks Investment Research raised shares of DXP Enterprises from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, July 10th.
DXP Enterprises Company Profile
DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates through three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.
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