Engineers Gate Manager LP Grows Holdings in DXP Enterprises, Inc. $DXPE

Engineers Gate Manager LP grew its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 68.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,429 shares of the industrial products company’s stock after purchasing an additional 4,639 shares during the quarter. Engineers Gate Manager LP’s holdings in DXP Enterprises were worth $1,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DXPE. Public Employees Retirement System of Ohio acquired a new position in shares of DXP Enterprises in the second quarter valued at approximately $33,000. Nykredit A S purchased a new stake in DXP Enterprises in the 2nd quarter worth approximately $36,000. KBC Group NV acquired a new position in DXP Enterprises in the 1st quarter valued at $51,000. Clearstead Advisors LLC raised its holdings in DXP Enterprises by 164.5% in the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 306 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of DXP Enterprises during the 2nd quarter worth $126,000. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $179.84 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 31.66 and a beta of 1.02. DXP Enterprises, Inc. has a one year low of $84.04 and a one year high of $208.00. The company has a 50 day moving average price of $178.85 and a 200 day moving average price of $161.48.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%. The company had revenue of $576.46 million for the quarter, compared to analyst estimates of $543.00 million.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DXPE shares. Weiss Ratings upgraded DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Stephens upped their target price on DXP Enterprises from $160.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.00.

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company that provides products and technical support to customers in a range of manufacturing, energy, mining, municipal water and wastewater, and other industrial markets. The company helps customers maintain and improve plant operations by supplying equipment, replacement parts, and related services.

Its offerings include rotating equipment such as pumps, compressors, and motors; power-transmission products; industrial bearings; hose and fluid-handling products; safety supplies; and other maintenance, repair, operating and production (MROP) products.