DXP Enterprises (NASDAQ:DXPE) Shares Pass Above 200 Day Moving Average of $37.44

DXP Enterprises, Inc. (NASDAQ:DXPE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $37.44 and traded as high as $52.42. DXP Enterprises shares last traded at $51.91, with a volume of 60,527 shares changing hands.

Wall Street Analyst Weigh In

Separately, TheStreet raised DXP Enterprises from a “c+” rating to a “b-” rating in a research report on Thursday, March 14th.

DXP Enterprises Stock Performance

The stock has a 50 day moving average of $46.60 and a 200 day moving average of $37.44. The company has a market capitalization of $839.90 million, a price-to-earnings ratio of 13.38 and a beta of 1.72. The company has a quick ratio of 2.43, a current ratio of 2.89 and a debt-to-equity ratio of 1.37.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Thursday, March 7th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter. DXP Enterprises had a net margin of 4.10% and a return on equity of 19.30%. The firm had revenue of $407.04 million for the quarter. During the same quarter last year, the firm posted $0.50 EPS. As a group, analysts predict that DXP Enterprises, Inc. will post 3.57 EPS for the current year.

Insider Activity

In related news, CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $49.14, for a total transaction of $491,400.00. Following the completion of the sale, the chief marketing officer now owns 621,723 shares of the company’s stock, valued at $30,551,468.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DXPE. Dimensional Fund Advisors LP raised its holdings in shares of DXP Enterprises by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,122,651 shares of the industrial products company’s stock valued at $37,834,000 after purchasing an additional 14,328 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in DXP Enterprises by 9.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 510,443 shares of the industrial products company’s stock worth $17,835,000 after buying an additional 43,598 shares during the period. Acadian Asset Management LLC boosted its holdings in DXP Enterprises by 10.0% in the third quarter. Acadian Asset Management LLC now owns 171,641 shares of the industrial products company’s stock worth $5,995,000 after acquiring an additional 15,574 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in DXP Enterprises in the fourth quarter valued at approximately $1,900,000. Finally, Fisher Asset Management LLC increased its holdings in shares of DXP Enterprises by 10.5% during the fourth quarter. Fisher Asset Management LLC now owns 40,659 shares of the industrial products company’s stock valued at $1,370,000 after acquiring an additional 3,860 shares in the last quarter. 74.82% of the stock is owned by institutional investors.

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).