Wellington Management Group LLP Takes Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

Wellington Management Group LLP purchased a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 821,853 shares of the industrial products company’s stock, valued at approximately $67,901,000. Wellington Management Group LLP owned about 5.24% of DXP Enterprises at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DXPE. Arrowstreet Capital Limited Partnership grew its holdings in shares of DXP Enterprises by 2,589.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company’s stock worth $12,339,000 after purchasing an additional 143,795 shares during the last quarter. FMR LLC grew its holdings in DXP Enterprises by 21.8% during the 3rd quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock worth $41,458,000 after acquiring an additional 139,027 shares during the last quarter. JPMorgan Chase & Co. increased its position in DXP Enterprises by 193.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock valued at $5,232,000 after acquiring an additional 64,611 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of DXP Enterprises in the third quarter worth about $3,355,000. Finally, 272 Capital LP bought a new stake in shares of DXP Enterprises during the third quarter valued at approximately $1,380,000. 74.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO David R. Little acquired 5,999 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average price of $82.70 per share, with a total value of $496,117.30. Following the purchase, the chief executive officer now directly owns 1,257,593 shares of the company’s stock, valued at $104,002,941.10. The trade was a 0.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total transaction of $305,702.51. Following the completion of the sale, the chief financial officer now directly owns 68,849 shares of the company’s stock, valued at $6,088,317.07. The trade was a 4.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,785 shares of company stock worth $1,139,818. Insiders own 22.40% of the company’s stock.

DXP Enterprises Trading Down 5.4 %

DXPE opened at $73.45 on Friday. DXP Enterprises, Inc. has a fifty-two week low of $43.25 and a fifty-two week high of $107.06. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 18.93 and a beta of 1.66. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The firm has a 50 day simple moving average of $90.80 and a 200 day simple moving average of $77.14.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The company had revenue of $470.91 million for the quarter, compared to the consensus estimate of $447.00 million. On average, sell-side analysts anticipate that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on DXPE. StockNews.com raised DXP Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday. Stephens raised their price target on DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, March 10th.

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).