DXP Enterprises, Inc. (NASDAQ:DXPE) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 86.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,935 shares of the industrial products company’s stock after selling 105,521 shares during the period. Millennium Management LLC owned 0.11% of DXP Enterprises worth $1,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP acquired a new position in shares of DXP Enterprises in the 4th quarter valued at $67,901,000. Arrowstreet Capital Limited Partnership increased its position in DXP Enterprises by 2,589.0% in the 4th 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of DXP Enterprises by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock valued at $59,513,000 after purchasing an additional 38,900 shares during the period. JPMorgan Chase & Co. increased its stake in DXP Enterprises by 26.5% in the 4th quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company’s stock valued at $10,244,000 after buying an additional 25,942 shares during the period. Finally, BNP Paribas Financial Markets increased its position in DXP Enterprises by 193.8% during the 4th quarter. BNP Paribas Financial Markets now owns 33,760 shares of the industrial products company’s stock worth $2,789,000 after purchasing an additional 22,270 shares during the period. Institutional investors and hedge funds own 74.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DXPE shares. Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Stephens increased their price target on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, March 10th.

DXP Enterprises Price Performance

DXPE opened at $81.40 on Wednesday. DXP Enterprises, Inc. has a 1 year low of $43.25 and a 1 year high of $107.06. The stock has a market capitalization of $1.28 billion, a PE ratio of 20.98 and a beta of 1.26. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The company’s 50 day simple moving average is $83.51 and its 200 day simple moving average is $85.90.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results 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 net margin of 3.75% and a return on equity of 18.74%. The business had revenue of $476.57 million for the quarter, compared to analyst estimates of $477.00 million. As a group, sell-side analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 4,328 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $89.04, for a total value of $385,365.12. Following the sale, the chief marketing officer now directly owns 613,039 shares of the company’s stock, valued at $54,584,992.56. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy P. Halter sold 5,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $89.75, for a total value of $448,750.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,785 shares of company stock valued at $1,400,818 over the last ninety days. Corporate insiders own 22.70% of the company’s stock.

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).