Comerica Bank Sells 227 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

Comerica Bank trimmed its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,402 shares of the industrial products company’s stock after selling 227 shares during the period. Comerica Bank’s holdings in DXP Enterprises were worth $364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in DXP Enterprises by 193.3% during the third quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock valued at $5,232,000 after acquiring an additional 64,611 shares during the period. Prudential Financial Inc. increased its stake in DXP Enterprises by 96.2% during the fourth quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company’s stock valued at $2,157,000 after acquiring an additional 12,800 shares during the period. Raymond James Financial Inc. bought a new position in DXP Enterprises during the fourth quarter valued at about $1,037,000. Intech Investment Management LLC bought a new position in DXP Enterprises during the fourth quarter valued at about $447,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in DXP Enterprises by 2,589.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company’s stock valued at $12,339,000 after acquiring an additional 143,795 shares during the period. 74.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday. Stephens upped their price objective on DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Trading Up 0.9%

DXPE stock opened at $89.76 on Friday. DXP Enterprises, Inc. has a 1-year low of $43.25 and a 1-year high of $107.06. The firm has a market cap of $1.41 billion, a P/E ratio of 23.13 and a beta of 1.26. The business’s 50 day moving average is $83.72 and its 200-day moving average is $83.69. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.06. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $476.57 million for the quarter, compared to analyst estimates of $477.00 million. Equities analysts anticipate that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kent Nee Hung Yee sold 3,457 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $88.43, for a total value of $305,702.51. Following the transaction, the chief financial officer now directly owns 68,849 shares of the company’s stock, valued at $6,088,317.07. The trade was a 4.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David R. Little bought 5,999 shares of DXP Enterprises stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average cost of $82.70 per share, for a total transaction of $496,117.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. This represents a 0.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 12,785 shares of company stock worth $1,139,818. Company insiders own 22.70% of the company’s stock.

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).