DXP Enterprises (NASDAQ:DXPE) Announces Earnings Results, Beats Expectations By $0.17 EPS

DXP Enterprises (NASDAQ:DXPE) posted its quarterly earnings data on Wednesday. The industrial products company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.17, Zacks reports. DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%.

DXP Enterprises Trading Down 1.5%

Shares of DXPE traded down $2.61 during trading hours on Wednesday, hitting $168.37. The company had a trading volume of 172,006 shares, compared to its average volume of 122,130. DXP Enterprises has a 52-week low of $84.04 and a 52-week high of $183.91. 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’s 50 day moving average price is $163.05 and its 200 day moving average price is $151.36. The firm has a market cap of $2.61 billion, a P/E ratio of 31.47 and a beta of 0.98.

Insider Activity

In other DXP Enterprises news, Director Timothy P. Halter sold 6,842 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 30,000 shares in the company, valued at approximately $4,247,700. The trade was a 18.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Paz Maestas sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total value of $1,643,700.00. Following the sale, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. This trade represents a 1.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after buying an additional 456 shares during the last quarter. State of Wyoming purchased a new position in shares of DXP Enterprises in the fourth quarter valued at about $152,000. Royal Bank of Canada raised its stake in shares of DXP Enterprises by 142.8% during the fourth quarter. Royal Bank of Canada now owns 1,408 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 828 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of DXP Enterprises by 498.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,802 shares of the industrial products company’s stock valued at $158,000 after acquiring an additional 1,501 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of DXP Enterprises during the third quarter worth about $215,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DXPE shares. Zacks Research downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Freedom Capital lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings cut shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

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.