Swiss National Bank Sells 600 Shares of DXP Enterprises, Inc. $DXPE

Swiss National Bank trimmed its position in DXP Enterprises, Inc. (NASDAQ:DXPE) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,900 shares of the industrial products company’s stock after selling 600 shares during the period. Swiss National Bank owned approximately 0.17% of DXP Enterprises worth $2,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in DXP Enterprises by 11.3% in the 1st quarter. Federated Hermes Inc. now owns 12,486 shares of the industrial products company’s stock valued at $1,027,000 after buying an additional 1,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DXP Enterprises by 18.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,856 shares of the industrial products company’s stock valued at $399,000 after buying an additional 743 shares in the last quarter. Private Advisor Group LLC bought a new stake in DXP Enterprises in the 1st quarter valued at about $791,000. Diversify Advisory Services LLC bought a new stake in DXP Enterprises in the 1st quarter valued at about $766,000. Finally, Jennison Associates LLC bought a new stake in DXP Enterprises in the 1st quarter valued at about $629,000. 74.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Nicholas Little sold 45,938 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was 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. The trade was a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher T. Gregory sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the completion of the transaction, the insider owned 24,436 shares in the company, valued at $2,981,192. The trade was a 16.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,938 shares of company stock worth $5,880,781 over the last 90 days. 22.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, DXP Enterprises presently has a consensus rating of “Buy” and an average target price of $95.00.

DXP Enterprises Price Performance

DXPE stock opened at $124.89 on Friday. The company has a market capitalization of $1.96 billion, a P/E ratio of 23.83 and a beta of 1.25. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79. DXP Enterprises, Inc. has a 52-week low of $45.81 and a 52-week high of $126.60. The business has a 50-day simple moving average of $100.65 and a two-hundred day simple moving average of $90.95.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.04. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The firm had revenue of $498.68 million for the quarter, compared to the consensus estimate of $499.00 million. Research analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal 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).