Principal Financial Group Inc. Has $8.55 Million Stake in DXP Enterprises, Inc. $DXPE

Principal Financial Group Inc. decreased its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 71,801 shares of the industrial products company’s stock after selling 3,575 shares during the quarter. Principal Financial Group Inc.’s holdings in DXP Enterprises were worth $8,549,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DXPE. HM Payson & Co. bought a new position in DXP Enterprises during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its stake in shares of DXP Enterprises by 3,507.7% in the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 456 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in DXP Enterprises in the third quarter worth $58,000. Highland Capital Management LLC bought a new position in DXP Enterprises in the third quarter worth $212,000. Finally, Tower Research Capital LLC TRC boosted its stake in DXP Enterprises by 498.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,802 shares of the industrial products company’s stock worth $158,000 after buying an additional 1,501 shares in the last quarter. Institutional investors own 74.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on DXPE. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $95.00.

DXP Enterprises Trading Up 4.3%

Shares of DXP Enterprises stock opened at $148.55 on Friday. The stock has a market capitalization of $2.33 billion, a P/E ratio of 28.13 and a beta of 1.00. The company has a quick ratio of 2.36, a current ratio of 2.77 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $121.05 and a 200 day simple moving average of $115.87. DXP Enterprises, Inc. has a 12-month low of $67.68 and a 12-month high of $154.19.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.