DXP Enterprises, Inc. (NASDAQ:DXPE) Stock Position Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in DXP Enterprises, Inc. (NASDAQ:DXPE) by 2.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,045 shares of the industrial products company’s stock after selling 210 shares during the period. State of Alaska Department of Revenue’s holdings in DXP Enterprises were worth $579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC grew its position 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 valued at $29,000 after buying an additional 333 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of DXP Enterprises by 3,150.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 504 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of DXP Enterprises during the 4th quarter valued at about $159,000. Hsbc Holdings PLC bought a new position in shares of DXP Enterprises during the 4th quarter valued at about $208,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of DXP Enterprises during the 1st quarter valued at about $210,000. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Stock Performance

NASDAQ:DXPE opened at $88.06 on Friday. The company has a current ratio of 2.70, a quick ratio of 2.25 and a debt-to-equity ratio of 1.40. DXP Enterprises, Inc. has a twelve month low of $43.25 and a twelve month high of $107.06. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 18.31 and a beta of 1.17. The company has a 50-day moving average of $84.33 and a 200-day moving average of $86.88.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.20 by $0.06. DXP Enterprises had a net margin of 4.27% and a return on equity of 20.41%. The company had revenue of $476.57 million during the quarter, compared to analysts’ expectations of $477.00 million. Analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stephens raised their price objective 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. Wall Street Zen lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, May 16th.

Insiders Place Their Bets

In other news, CMO Paz Maestas sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $79.09, for a total value of $237,270.00. Following the completion of the sale, the chief marketing officer now directly owns 607,737 shares of the company’s stock, valued at $48,065,919.33. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 8,000 shares of company stock worth $660,590 over the last ninety days. 22.70% of the stock is currently owned by company insiders.

DXP Enterprises Company 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).