Municipal Employees Retirement System of Michigan Acquires 3,950 Shares of DXP Enterprises Inc (NASDAQ:DXPE)

Municipal Employees Retirement System of Michigan raised its holdings in DXP Enterprises Inc (NASDAQ:DXPE) by 14.0% during the second quarter, Holdings Channel.com reports. The fund owned 32,160 shares of the industrial products company’s stock after purchasing an additional 3,950 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in DXP Enterprises were worth $1,218,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DXPE. Marshall Wace LLP bought a new position in DXP Enterprises in the first quarter valued at approximately $1,721,000. South Dakota Investment Council boosted its stake in DXP Enterprises by 139.8% in the first quarter. South Dakota Investment Council now owns 43,410 shares of the industrial products company’s stock valued at $1,690,000 after acquiring an additional 25,310 shares during the last quarter. Bank of America Corp DE boosted its stake in DXP Enterprises by 189.0% in the fourth quarter. Bank of America Corp DE now owns 22,929 shares of the industrial products company’s stock valued at $638,000 after acquiring an additional 14,996 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in DXP Enterprises in the first quarter valued at approximately $567,000. Finally, Frontier Capital Management Co. LLC boosted its stake in DXP Enterprises by 1.8% in the first quarter. Frontier Capital Management Co. LLC now owns 781,517 shares of the industrial products company’s stock valued at $30,417,000 after acquiring an additional 14,081 shares during the last quarter. 79.37% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on DXPE shares. Jefferies Financial Group started coverage on shares of DXP Enterprises in a research report on Thursday, April 25th. They set a “hold” rating and a $47.00 price target on the stock. ValuEngine cut shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Stephens set a $47.00 price target on shares of DXP Enterprises and gave the stock a “buy” rating in a research report on Wednesday, May 8th. BidaskClub cut shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Sidoti cut shares of DXP Enterprises from a “buy” rating to a “neutral” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $47.00.

Shares of NASDAQ DXPE traded down $0.96 during midday trading on Wednesday, reaching $31.77. 181 shares of the stock were exchanged, compared to its average volume of 80,906. The business’s 50-day moving average is $34.14. The stock has a market capitalization of $575.01 million, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.78 and a beta of 2.65. DXP Enterprises Inc has a 12 month low of $26.95 and a 12 month high of $49.15. The company has a quick ratio of 1.75, a current ratio of 2.56 and a debt-to-equity ratio of 0.87.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $331.07 million. DXP Enterprises had a net margin of 3.19% and a return on equity of 12.86%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. Equities research analysts anticipate that DXP Enterprises Inc will post 2.39 earnings per share for the current year.

DXP Enterprises Profile

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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Institutional Ownership by Quarter for DXP Enterprises (NASDAQ:DXPE)

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