Janney Montgomery Scott LLC Invests $210,000 in DXP Enterprises, Inc. (NASDAQ:DXPE)

Janney Montgomery Scott LLC purchased a new position in DXP Enterprises, Inc. (NASDAQ:DXPE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,550 shares of the industrial products company’s stock, valued at approximately $210,000.

Other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its stake in DXP Enterprises by 0.8% in the first quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company’s stock valued at $1,432,000 after acquiring an additional 142 shares during the last quarter. SG Americas Securities LLC increased its stake in DXP Enterprises by 243.8% in the first quarter. SG Americas Securities LLC now owns 8,712 shares of the industrial products company’s stock valued at $717,000 after acquiring an additional 6,178 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in DXP Enterprises by 3,657.9% in the first quarter. Harbor Capital Advisors Inc. now owns 2,856 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 2,780 shares during the last quarter. GAMMA Investing LLC increased its stake in DXP Enterprises by 9,327.6% in the first quarter. GAMMA Investing LLC now owns 41,953 shares of the industrial products company’s stock valued at $3,451,000 after acquiring an additional 41,508 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in DXP Enterprises in the fourth quarter valued at $67,901,000. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Price Performance

Shares of NASDAQ DXPE opened at $91.80 on Monday. DXP Enterprises, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $107.06. The company has a 50 day simple moving average of $85.21 and a two-hundred day simple moving average of $87.26. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 19.09 and a beta of 1.16. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.25 and a current ratio of 2.70.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly 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. The company had revenue of $476.57 million during the quarter, compared to the consensus estimate of $477.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 20.41%. Analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In related news, CMO Paz Maestas sold 3,000 shares of DXP Enterprises stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $79.09, for a total transaction of $237,270.00. Following the transaction, the chief marketing officer directly owned 607,737 shares in the company, valued at approximately $48,065,919.33. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Nicholas Little sold 45,938 shares of DXP Enterprises stock in a transaction on Monday, June 30th. The shares were sold at an average price of $87.73, for a total value of $4,030,140.74. Following the transaction, the chief operating officer owned 812,328 shares in the company, valued at $71,265,535.44. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,938 shares of company stock worth $4,690,731 over the last quarter. 22.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DXPE. Stephens upped 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. Wall Street Zen lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, May 16th.

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).