Russell Investments Group Ltd. decreased its position in DXP Enterprises Inc (NASDAQ:DXPE) by 68.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 33,783 shares of the industrial products company’s stock after selling 73,300 shares during the period. Russell Investments Group Ltd. owned about 0.19% of DXP Enterprises worth $1,064,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its stake in DXP Enterprises by 8.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,915 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 219 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of DXP Enterprises by 3.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 110 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of DXP Enterprises during the 2nd quarter worth approximately $152,000. BNP Paribas Arbitrage SA raised its stake in shares of DXP Enterprises by 63.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,688 shares of the industrial products company’s stock worth $196,000 after purchasing an additional 2,201 shares in the last quarter. Finally, Voya Investment Management LLC bought a new stake in shares of DXP Enterprises during the 2nd quarter worth approximately $243,000. Hedge funds and other institutional investors own 74.25% of the company’s stock.
Shares of DXP Enterprises Inc (NASDAQ DXPE) opened at $33.10 on Friday. DXP Enterprises Inc has a 12 month low of $24.86 and a 12 month high of $42.00. The stock has a market capitalization of $566.45, a P/E ratio of 33.78 and a beta of 2.65. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.79 and a current ratio of 2.51.
DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The company had revenue of $251.90 million for the quarter, compared to the consensus estimate of $250.42 million. DXP Enterprises had a return on equity of 6.87% and a net margin of 1.83%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. research analysts forecast that DXP Enterprises Inc will post 0.67 earnings per share for the current year.
A number of equities research analysts have recently issued reports on DXPE shares. Zacks Investment Research cut DXP Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.00.
In related news, CEO David R. Little sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $29.50, for a total transaction of $398,250.00. Following the transaction, the chief executive officer now directly owns 1,368,214 shares of the company’s stock, valued at approximately $40,362,313. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kent Nee Hung Yee sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $29.69, for a total value of $65,318.00. Following the transaction, the insider now directly owns 40,984 shares in the company, valued at $1,216,814.96. The disclosure for this sale can be found here. Insiders have sold a total of 34,200 shares of company stock worth $1,010,218 over the last three months. 11.30% of the stock is owned by insiders.
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About DXP Enterprises
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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