Lazard Asset Management LLC Sells 3,018 Shares of DXP Enterprises, Inc. $DXPE

Lazard Asset Management LLC lowered its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 62.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,841 shares of the industrial products company’s stock after selling 3,018 shares during the quarter. Lazard Asset Management LLC’s holdings in DXP Enterprises were worth $257,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of DXP Enterprises by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock valued at $133,867,000 after acquiring an additional 137,577 shares during the period. Vanguard Group Inc. raised its stake in shares of DXP Enterprises by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company’s stock valued at $105,877,000 after acquiring an additional 18,414 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of DXP Enterprises by 480.2% during the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock worth $82,859,000 after purchasing an additional 624,638 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of DXP Enterprises by 12,369,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock worth $40,785,000 after purchasing an additional 371,073 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of DXP Enterprises by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company’s stock worth $36,895,000 after purchasing an additional 9,767 shares during the last quarter. Institutional investors own 74.82% of the company’s stock.

Insider Buying and Selling at DXP Enterprises

In other news, 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 in the company, valued at approximately $4,247,700. The trade was a 18.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief marketing officer directly owned 590,262 shares in the company, valued at $97,021,364.94. This represents a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Stephens lifted 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. Zacks Research cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

DXP Enterprises Trading Down 3.0%

DXPE opened at $192.36 on Friday. The stock has a market cap of $2.98 billion, a PE 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. The business has a 50 day moving average of $164.98 and a 200-day moving average of $152.16. DXP Enterprises, Inc. has a 52 week low of $84.04 and a 52 week high of $208.00.

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

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.