Geode Capital Management LLC Buys 9,216 Shares of DXP Enterprises, Inc. $DXPE

Geode Capital Management LLC raised its position in DXP Enterprises, Inc. (NASDAQ:DXPE) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 329,543 shares of the industrial products company’s stock after acquiring an additional 9,216 shares during the period. Geode Capital Management LLC owned approximately 2.10% of DXP Enterprises worth $28,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its stake in DXP Enterprises by 24.3% during the 2nd quarter. GAMMA Investing LLC now owns 634 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 124 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in DXP Enterprises by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,593 shares of the industrial products company’s stock worth $1,542,000 after acquiring an additional 180 shares in the last quarter. Rezny Wealth Management Inc. lifted its stake in DXP Enterprises by 1.2% in the 2nd quarter. Rezny Wealth Management Inc. now owns 17,803 shares of the industrial products company’s stock valued at $1,560,000 after buying an additional 215 shares in the last quarter. Algert Global LLC boosted its stake in shares of DXP Enterprises by 2.6% in the first quarter. Algert Global LLC now owns 11,255 shares of the industrial products company’s stock worth $926,000 after acquiring an additional 280 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in shares of DXP Enterprises by 10.6% during the second quarter. Savant Capital LLC now owns 3,510 shares of the industrial products company’s stock worth $308,000 after buying an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Insider Activity

In related news, COO Nicholas Little sold 20,440 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $118.53, for a total value of $2,422,753.20. Following the completion of the sale, the chief operating officer owned 791,888 shares in the company, valued at $93,862,484.64. This trade represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher T. Gregory sold 4,477 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $119.76, for a total value of $536,165.52. Following the transaction, the insider owned 19,959 shares in the company, valued at $2,390,289.84. The trade was a 18.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 22.70% of the company’s stock.

DXP Enterprises Price Performance

DXP Enterprises stock opened at $93.96 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The business has a 50 day simple moving average of $110.99 and a 200-day simple moving average of $104.23. DXP Enterprises, Inc. has a 12 month low of $67.68 and a 12 month high of $130.97. The stock has a market capitalization of $1.47 billion, a PE ratio of 17.93 and a beta of 1.15.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11). The firm had revenue of $513.72 million during the quarter, compared to analysts’ expectations of $499.00 million. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. Equities analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DXPE has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of DXP Enterprises in a research report on Wednesday, October 8th. Singular Research upgraded DXP Enterprises to a “moderate buy” rating in a report on Tuesday, September 9th. Finally, Wall Street Zen cut DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $95.00.

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).