DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month High – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $172.26 and last traded at $168.03, with a volume of 69411 shares traded. The stock had previously closed at $163.77.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. Zacks Research raised DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Wall Street Zen raised DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, Loop Capital set a $154.00 target price on DXP Enterprises in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $154.00.

DXP Enterprises Stock Performance

The stock has a market cap of $2.61 billion, a PE ratio of 31.29 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 3.34 and a quick ratio of 2.94. The business has a 50 day moving average price of $144.15 and a two-hundred day moving average price of $124.40.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.48. The firm had revenue of $527.39 million during the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%. As a group, equities research analysts forecast that DXP Enterprises, Inc. will post 6.2 EPS for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In other news, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $137.95, for a total transaction of $206,925.00. Following the completion of the sale, the director owned 13,964 shares of the company’s stock, valued at approximately $1,926,333.80. This represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.70% of the company’s stock.

Institutional Trading of DXP Enterprises

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of DXP Enterprises by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock valued at $133,867,000 after purchasing an additional 137,577 shares during the period. Vanguard Group Inc. boosted its stake in shares of DXP Enterprises by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company’s stock valued at $105,877,000 after purchasing an additional 18,414 shares during the period. Wasatch Advisors LP raised its holdings in shares of DXP Enterprises by 480.2% during the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock valued at $82,859,000 after acquiring an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of DXP Enterprises by 12,369,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock valued at $40,785,000 after acquiring an additional 371,073 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of DXP Enterprises by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company’s stock valued at $36,895,000 after acquiring an additional 9,767 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

About DXP Enterprises

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.