Connor Clark & Lunn Investment Management Ltd. Trims Stake in DXP Enterprises, Inc. (NASDAQ:DXPE)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,814 shares of the industrial products company’s stock after selling 11,362 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of DXP Enterprises worth $2,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of DXP Enterprises by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock worth $3,682,000 after buying an additional 178 shares during the last quarter. Global Retirement Partners LLC raised its position in DXP Enterprises by 2,220.0% during the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 333 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in DXP Enterprises by 3,150.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 504 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of DXP Enterprises by 9.6% in the 3rd quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 517 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of DXP Enterprises during the 3rd quarter valued at about $41,000. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on DXPE. StockNews.com raised DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Stephens increased their target price on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, March 10th.

DXP Enterprises Trading Up 1.2 %

Shares of DXPE stock opened at $85.14 on Wednesday. The business has a 50-day moving average of $94.33 and a 200 day moving average of $74.44. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. DXP Enterprises, Inc. has a 1-year low of $43.25 and a 1-year high of $107.06. The stock has a market capitalization of $1.34 billion, a PE ratio of 21.94 and a beta of 1.66.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $470.91 million during the quarter, compared to analyst estimates of $447.00 million. As a group, sell-side analysts anticipate that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

DXP Enterprises Company Profile

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).