Louisiana State Employees Retirement System Acquires New Holdings in DXP Enterprises, Inc. $DXPE

Louisiana State Employees Retirement System bought a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 5,600 shares of the industrial products company’s stock, valued at approximately $782,000.

Other institutional investors also recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of DXP Enterprises during the 4th quarter worth about $4,864,000. Nordea Investment Management AB acquired a new stake in DXP Enterprises in the 4th quarter worth about $1,597,000. SG Americas Securities LLC boosted its stake in shares of DXP Enterprises by 646.7% in the fourth quarter. SG Americas Securities LLC now owns 15,143 shares of the industrial products company’s stock valued at $1,663,000 after buying an additional 13,115 shares during the period. Oliver Luxxe Assets LLC bought a new stake in shares of DXP Enterprises during the 4th quarter valued at $2,955,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in DXP Enterprises during the fourth quarter worth about $1,591,000. 74.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DXPE has been the subject of several research analyst reports. Freedom Capital downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of DXP Enterprises in a research note on Friday, May 22nd. Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Zacks Research cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, DXP Enterprises currently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Insider Buying and Selling at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the transaction, the chief marketing officer owned 590,262 shares of the company’s stock, valued at $97,021,364.94. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy P. Halter sold 6,842 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the transaction, the director owned 30,000 shares in the company, valued at approximately $4,247,700. The trade was a 18.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 22.00% of the company’s stock.

DXP Enterprises Trading Down 3.6%

DXPE stock traded down $5.89 during trading on Tuesday, hitting $156.69. The company had a trading volume of 28,577 shares, compared to its average volume of 160,837. The business has a 50-day moving average of $159.06 and a 200-day moving average of $143.31. DXP Enterprises, Inc. has a one year low of $84.04 and a one year high of $183.91. The stock has a market cap of $2.43 billion, a PE ratio of 29.29 and a beta of 0.97. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.12). The firm had revenue of $521.66 million for the quarter, compared to the consensus estimate of $531.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%. Research analysts predict that DXP Enterprises, Inc. will post 6.2 earnings per share for the current fiscal year.

DXP Enterprises 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.