DXP Enterprises, Inc. $DXPE Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in DXP Enterprises, Inc. (NASDAQ:DXPE) by 23.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,345 shares of the industrial products company’s stock after acquiring an additional 4,087 shares during the quarter. Envestnet Asset Management Inc.’s holdings in DXP Enterprises were worth $1,871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DXPE. CWM LLC increased its position in shares of DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 362 shares during the last quarter. Victory Capital Management Inc. grew its stake in DXP Enterprises by 113.3% during the 1st quarter. Victory Capital Management Inc. now owns 41,377 shares of the industrial products company’s stock valued at $3,404,000 after purchasing an additional 21,978 shares in the last quarter. Jennison Associates LLC acquired a new stake in DXP Enterprises during the 1st quarter valued at approximately $629,000. Private Advisor Group LLC purchased a new stake in DXP Enterprises during the 1st quarter worth approximately $791,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of DXP Enterprises by 18.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,856 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 743 shares in the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Christopher T. Gregory sold 4,477 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $119.76, for a total transaction of $536,165.52. Following the completion of the transaction, the insider directly owned 19,959 shares of the company’s stock, valued at approximately $2,390,289.84. This represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Hoffman sold 2,399 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $125.00, for a total value of $299,875.00. Following the completion of the sale, the director directly owned 4,787 shares in the company, valued at approximately $598,375. This trade represents a 33.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,316 shares of company stock valued at $3,509,654. 22.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DXPE. Weiss Ratings reiterated a “buy (b)” rating on shares of DXP Enterprises in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Singular Research raised shares of DXP Enterprises to a “moderate buy” rating in a report on Tuesday, September 9th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $95.00.

DXP Enterprises Stock Performance

DXP Enterprises stock opened at $85.53 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. DXP Enterprises, Inc. has a 12 month low of $67.31 and a 12 month high of $130.97. The company has a fifty day moving average price of $115.17 and a two-hundred day moving average price of $104.33. The company has a market cap of $1.34 billion, a PE ratio of 16.32 and a beta of 1.15.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11). DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The business had revenue of $513.72 million during the quarter, compared to the consensus estimate of $499.00 million. Research analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

About DXP Enterprises

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).