Rhumbline Advisers Lowers Position in DXP Enterprises, Inc. $DXPE

Rhumbline Advisers lessened its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE) by 2.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,046 shares of the industrial products company’s stock after selling 1,197 shares during the period. Rhumbline Advisers owned 0.27% of DXP Enterprises worth $3,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DXPE. Bank of America Corp DE raised its position in DXP Enterprises by 26.6% during the fourth quarter. Bank of America Corp DE now owns 22,695 shares of the industrial products company’s stock valued at $1,875,000 after purchasing an additional 4,762 shares in the last quarter. Deutsche Bank AG grew its stake in shares of DXP Enterprises by 9.6% during the fourth quarter. Deutsche Bank AG now owns 42,127 shares of the industrial products company’s stock valued at $3,481,000 after buying an additional 3,706 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of DXP Enterprises during the fourth quarter valued at about $159,000. ProShare Advisors LLC bought a new position in shares of DXP Enterprises during the fourth quarter valued at about $311,000. Finally, State of Wyoming grew its stake in shares of DXP Enterprises by 21.9% in the fourth quarter. State of Wyoming now owns 8,724 shares of the industrial products company’s stock worth $721,000 after purchasing an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DXPE. Singular Research upgraded shares of DXP Enterprises to a “moderate buy” rating in a report on Tuesday, September 9th. Wall Street Zen lowered shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DXP Enterprises has a consensus rating of “Buy” and an average target price of $95.00.

Insiders Place Their Bets

In related news, SVP John Jay Jeffery sold 2,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $125.43, for a total transaction of $250,860.00. Following the completion of the transaction, the senior vice president owned 20,008 shares of the company’s stock, valued at $2,509,603.44. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher T. Gregory sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total transaction of $610,000.00. Following the sale, the insider owned 24,436 shares in the company, valued at approximately $2,981,192. This represents a 16.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,337 shares of company stock valued at $6,431,516. Corporate insiders own 22.40% of the company’s stock.

DXP Enterprises Price Performance

NASDAQ DXPE opened at $117.56 on Tuesday. DXP Enterprises, Inc. has a 52-week low of $48.45 and a 52-week high of $129.56. The firm’s 50 day moving average price is $112.36 and its 200-day moving average price is $93.68. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79. The company has a market cap of $1.84 billion, a PE ratio of 22.44 and a beta of 1.24.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.04. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. The company had revenue of $498.68 million during the quarter, compared to analysts’ expectations of $499.00 million. Sell-side analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

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).