Federated Investors Inc. PA reduced its position in DXP Enterprises Inc (NASDAQ:DXPE) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,060 shares of the industrial products company’s stock after selling 1,817 shares during the period. Federated Investors Inc. PA owned about 0.07% of DXP Enterprises worth $419,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of DXPE. GMT Capital Corp increased its stake in DXP Enterprises by 41.7% in the third quarter. GMT Capital Corp now owns 1,595,545 shares of the industrial products company’s stock valued at $44,978,000 after buying an additional 469,409 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in DXP Enterprises by 69.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 961,731 shares of the industrial products company’s stock valued at $33,411,000 after buying an additional 395,339 shares in the last quarter. Hancock Holding Co. bought a new stake in DXP Enterprises during the third quarter valued at $8,031,000. Russell Investments Group Ltd. acquired a new stake in shares of DXP Enterprises during the fourth quarter valued at approximately $4,579,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of DXP Enterprises by 26.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 616,128 shares of the industrial products company’s stock valued at $21,404,000 after buying an additional 127,241 shares during the last quarter. 67.65% of the stock is currently owned by hedge funds and other institutional investors.
DXP Enterprises Inc (NASDAQ:DXPE) traded down 0.74% during trading on Friday, hitting $36.32. 89,756 shares of the company traded hands. The company’s 50-day moving average is $34.31 and its 200 day moving average is $33.08. DXP Enterprises Inc has a 52-week low of $12.67 and a 52-week high of $40.77. The firm has a market cap of $630.08 million, a price-to-earnings ratio of 74.89 and a beta of 2.33.
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Several brokerages have commented on DXPE. Zacks Investment Research upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, January 25th. Keefe, Bruyette & Woods restated a “hold” rating on shares of DXP Enterprises in a research note on Friday, March 24th. Finally, Sidoti upgraded shares of DXP Enterprises from a “neutral” rating to a “buy” rating in a research note on Thursday, March 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $39.00.
In other news, Director Cletus Davis sold 3,065 shares of DXP Enterprises stock in a transaction on Monday, January 30th. The stock was sold at an average price of $38.78, for a total transaction of $118,860.70. Following the completion of the transaction, the director now owns 12,705 shares of the company’s stock, valued at approximately $492,699.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.30% of the company’s stock.
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.
