Allspring Global Investments Holdings LLC Buys 3,649 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

Allspring Global Investments Holdings LLC lifted its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 54.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,406 shares of the industrial products company’s stock after purchasing an additional 3,649 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of DXP Enterprises worth $856,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. SummerHaven Investment Management LLC boosted its holdings in shares of DXP Enterprises by 0.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 17,413 shares of the industrial products company’s stock worth $1,432,000 after buying an additional 142 shares during the period. CastleKnight Management LP boosted its holdings in shares of DXP Enterprises by 0.3% during the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company’s stock worth $9,691,000 after buying an additional 300 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of DXP Enterprises by 4.4% during the 4th quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company’s stock worth $633,000 after buying an additional 326 shares during the period. Federated Hermes Inc. boosted its holdings in shares of DXP Enterprises by 4.7% during the 4th quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company’s stock worth $927,000 after buying an additional 502 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings 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 worth $43,000 after buying an additional 504 shares during the period. 74.82% of the stock is owned by institutional investors and hedge funds.

DXP Enterprises Stock Performance

Shares of NASDAQ DXPE opened at $89.92 on Wednesday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 18.69 and a beta of 1.16. DXP Enterprises, Inc. has a one year low of $43.37 and a one year high of $107.06. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.70 and a quick ratio of 2.25. The stock’s fifty day moving average price is $85.30 and its two-hundred day moving average price is $87.41.

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

Insider Buying and Selling at DXP Enterprises

In other news, COO Nicholas Little sold 45,938 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following the sale, the chief operating officer directly owned 812,328 shares of the company’s stock, valued at approximately $71,265,535.44. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Paz Maestas sold 2,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $81.16, for a total value of $162,320.00. Following the sale, the chief marketing officer directly owned 605,737 shares in the company, valued at approximately $49,161,614.92. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,938 shares of company stock worth $4,690,731. 22.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, May 16th.

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).