Insider Selling: DXP Enterprises (NASDAQ:DXPE) Director Sells 6,842 Shares of Stock

DXP Enterprises, Inc. (NASDAQ:DXPE) Director Timothy Halter sold 6,842 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total value of $968,758.78. Following the sale, the director owned 30,000 shares of the company’s stock, valued at $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

DXP Enterprises Stock Up 1.7%

Shares of NASDAQ DXPE traded up $2.51 during mid-day trading on Tuesday, reaching $146.71. 53,774 shares of the company were exchanged, compared to its average volume of 158,115. The company has a quick ratio of 2.56, a current ratio of 2.98 and a debt-to-equity ratio of 1.60. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 27.42 and a beta of 1.07. DXP Enterprises, Inc. has a 1 year low of $75.58 and a 1 year high of $183.91. The firm has a 50-day moving average of $149.20 and a 200 day moving average of $129.80.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.The company had revenue of $521.66 million for the quarter, compared to analysts’ expectations of $531.00 million. On average, research analysts expect that DXP Enterprises, Inc. will post 6.2 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of DXP Enterprises in a report on Friday. Wall Street Zen raised DXP Enterprises from a “hold” rating to a “buy” rating in a report on Sunday. Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Loop Capital set a $154.00 price objective on DXP Enterprises in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in DXP Enterprises by 26.3% during the first quarter. California State Teachers Retirement System now owns 15,623 shares of the industrial products company’s stock worth $2,183,000 after acquiring an additional 3,256 shares during the period. Quantinno Capital Management LP boosted its position in DXP Enterprises by 139.8% during the first quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company’s stock worth $1,232,000 after purchasing an additional 5,140 shares in the last quarter. Cetera Investment Advisers purchased a new position in DXP Enterprises during the first quarter worth approximately $335,000. First Trust Advisors LP boosted its position in DXP Enterprises by 1.1% during the first quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock worth $9,590,000 after purchasing an additional 756 shares in the last quarter. Finally, KBC Group NV purchased a new position in DXP Enterprises during the first quarter worth approximately $51,000. 74.82% of the stock is owned by institutional investors and hedge funds.

About DXP Enterprises

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.