DXP Enterprises, Inc. $DXPE Stock: SummerHaven Investment Management LLC Increases Holdings

SummerHaven Investment Management LLC lifted its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 110.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,271 shares of the industrial products company’s stock after buying an additional 9,070 shares during the period. DXP Enterprises makes up approximately 2.2% of SummerHaven Investment Management LLC’s portfolio, making the stock its 3rd largest position. SummerHaven Investment Management LLC owned about 0.11% of DXP Enterprises worth $3,130,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in DXP Enterprises in the third quarter valued at approximately $39,000. Triasima Portfolio Management inc. acquired a new stake in DXP Enterprises during the third quarter worth $366,000. GK Wealth Management LLC acquired a new stake in DXP Enterprises during the third quarter worth $52,000. GAMMA Investing LLC raised its position in DXP Enterprises by 6.3% in the third quarter. GAMMA Investing LLC now owns 977 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 58 shares during the period. Finally, Congress Asset Management Co. raised its position in DXP Enterprises by 21.7% in the third quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock valued at $11,600,000 after purchasing an additional 11,423 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on DXPE. Weiss Ratings raised DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 29th. Wall Street Zen raised DXP Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Stephens raised their price objective on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

DXP Enterprises Price Performance

DXP Enterprises stock opened at $175.79 on Friday. The company’s 50 day simple moving average is $187.14 and its 200-day simple moving average is $169.09. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 30.95 and a beta of 1.03. DXP Enterprises, Inc. has a 1 year low of $84.04 and a 1 year high of $208.00. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data 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. The firm had revenue of $576.46 million for the quarter, compared to analyst estimates of $543.00 million. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%.

DXP Enterprises Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies products and technical solutions used to maintain, repair and operate industrial facilities, with a focus on fluid-handling equipment and other critical components.

Its product offerings include pumps, valves, motors, bearings, power-transmission equipment, hoses, gaskets, safety products and other industrial supplies. DXP also provides engineered pumping systems, equipment repair, field services, technical support and supply-chain management solutions designed to help customers improve operating efficiency and reduce equipment downtime.

DXP serves customers across a range of industries, including energy, petrochemical, mining, food and beverage, water and wastewater, manufacturing and general industrial markets.