DXP Enterprises Inc. (DXPE) Sees Unusually-High Trading Volume
Shares of DXP Enterprises Inc. (NASDAQ:DXPE) saw unusually-strong trading volume on Tuesday . Approximately 228,801 shares changed hands during mid-day trading, a decline of 5% from the previous session’s volume of 239,858 shares.The stock last traded at $17.95 and had previously closed at $17.74.
Separately, Zacks Investment Research lowered shares of DXP Enterprises from a “hold” rating to a “strong sell” rating in a research note on Monday, May 16th.
The company’s market capitalization is $257.85 million. The company has a 50 day moving average price of $14.91 and a 200 day moving average price of $16.79.
DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Friday, May 13th. The company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.44. Equities research analysts anticipate that DXP Enterprises Inc. will post ($0.26) EPS for the current fiscal year.
Other hedge funds and institutional investors have modified their holdings of the company. Oxford Asset Management acquired a new position in shares of DXP Enterprises during the fourth quarter valued at about $1,135,000. Morgan Stanley boosted its position in shares of DXP Enterprises by 309.6% in the fourth quarter. Morgan Stanley now owns 62,571 shares of the company’s stock valued at $1,427,000 after buying an additional 47,294 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in shares of DXP Enterprises by 20.4% in the fourth quarter. Stephens Inc. AR now owns 62,994 shares of the company’s stock valued at $1,436,000 after buying an additional 10,670 shares during the last quarter.
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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