Principal Financial Group Inc. grew its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE – Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,229 shares of the industrial products company’s stock after purchasing an additional 2,728 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of DXP Enterprises worth $6,106,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of DXPE. Lazard Asset Management LLC acquired a new stake in DXP Enterprises during the 4th quarter worth $159,000. Hsbc Holdings PLC purchased a new stake in shares of DXP Enterprises in the fourth quarter valued at about $208,000. Janney Montgomery Scott LLC purchased a new position in shares of DXP Enterprises during the first quarter worth about $210,000. Pictet Asset Management Holding SA purchased a new stake in DXP Enterprises during the 4th quarter valued at approximately $218,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in DXP Enterprises during the 4th quarter worth approximately $224,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.
Insider Activity
In related news, COO Nicholas Little sold 45,938 shares of the stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Paz Maestas sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $81.16, for a total transaction of $162,320.00. Following the completion of the sale, the chief marketing officer owned 605,737 shares in the company, valued at $49,161,614.92. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,938 shares of company stock valued at $4,690,731 in the last quarter. Company insiders own 22.70% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on DXP Enterprises
DXP Enterprises Stock Performance
NASDAQ DXPE opened at $97.23 on Thursday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 20.21 and a beta of 1.16. The business’s 50 day moving average is $85.81 and its two-hundred day moving average is $87.89. DXP Enterprises, Inc. has a 12-month low of $45.00 and a 12-month high of $107.06. 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 (NASDAQ:DXPE – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $476.57 million during the quarter, compared to analysts’ expectations of $477.00 million. DXP Enterprises had a return on equity of 20.41% and a net margin of 4.27%. Research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.
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).
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