DXP Enterprises, Inc. $DXPE Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC reduced its position in DXP Enterprises, Inc. (NASDAQ:DXPE) by 40.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,941 shares of the industrial products company’s stock after selling 10,721 shares during the period. Oliver Luxxe Assets LLC owned approximately 0.10% of DXP Enterprises worth $2,690,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in shares of DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock worth $82,859,000 after acquiring an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in DXP Enterprises by 12,369,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock valued at $40,785,000 after purchasing an additional 371,073 shares during the last quarter. Wellington Management Group LLP grew its stake in DXP Enterprises by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock valued at $133,867,000 after purchasing an additional 137,577 shares in the last quarter. Millennium Management LLC grew its stake in DXP Enterprises by 661.5% during the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after purchasing an additional 112,021 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in DXP Enterprises by 41.6% during the 3rd quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock worth $29,862,000 after purchasing an additional 73,653 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DXPE has been the topic of a number of recent analyst reports. Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Stephens raised their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday. Freedom Capital cut shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, DXP Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

Insider Buying and Selling at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the transaction, the chief marketing officer directly owned 590,262 shares in the company, valued at $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy P. Halter sold 6,842 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the sale, the director owned 30,000 shares of the company’s stock, valued at approximately $4,247,700. The trade was a 18.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 22.00% of the company’s stock.

DXP Enterprises Trading Down 3.0%

Shares of NASDAQ DXPE opened at $192.36 on Friday. The stock’s 50 day moving average price is $164.98 and its two-hundred day moving average price is $152.16. DXP Enterprises, Inc. has a 52-week low of $84.04 and a 52-week high of $208.00. The stock has a market capitalization of $2.98 billion, a P/E ratio of 33.87 and a beta of 0.98. The company has a quick ratio of 2.56, a current ratio of 2.99 and a debt-to-equity ratio of 1.51.

DXP Enterprises (NASDAQ:DXPE) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.59 by $0.17. DXP Enterprises had a return on equity of 18.51% and a net margin of 4.35%.The company had revenue of $576.46 million during the quarter, compared to analyst estimates of $543.00 million.

DXP Enterprises Company Profile

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.