DXP Enterprises (NASDAQ:DXPE) Trading Down 15.1% Following Weak Earnings

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) fell 15.1% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $95.01 and last traded at $103.5550. 94,337 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 177,942 shares. The stock had previously closed at $122.01.

The industrial products company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.11). DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Singular Research upgraded shares of DXP Enterprises to a “moderate buy” rating in a report on Tuesday, September 9th. Wall Street Zen lowered shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DXP Enterprises in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $95.00.

Insider Transactions at DXP Enterprises

In other news, insider Christopher T. Gregory sold 5,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total value of $610,000.00. Following the transaction, the insider owned 24,436 shares of the company’s stock, valued at $2,981,192. This represents a 16.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Hoffman sold 2,399 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $125.00, for a total transaction of $299,875.00. Following the transaction, the director directly owned 4,787 shares in the company, valued at approximately $598,375. This represents a 33.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 41,316 shares of company stock worth $4,960,704. Company insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

A number of large investors have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC lifted its position in shares of DXP Enterprises by 8,665.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 122,710 shares of the industrial products company’s stock worth $10,756,000 after purchasing an additional 121,310 shares during the period. Millennium Management LLC lifted its position 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 acquiring an additional 112,021 shares during the period. American Century Companies Inc. lifted its position in DXP Enterprises by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company’s stock valued at $49,278,000 after acquiring an additional 110,482 shares during the period. Wellington Management Group LLP lifted its position in DXP Enterprises by 13.3% during the 1st quarter. Wellington Management Group LLP now owns 931,004 shares of the industrial products company’s stock valued at $76,584,000 after acquiring an additional 109,151 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in DXP Enterprises during the 1st quarter valued at about $5,831,000. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Stock Performance

The company has a market capitalization of $1.59 billion, a PE ratio of 19.35 and a beta of 1.15. The business’s 50-day moving average is $120.33 and its 200-day moving average is $103.60. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79.

DXP Enterprises Company Profile

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).