DXP Enterprises Inc. (NASDAQ:DXPE) shares dropped 3.4% during trading on Friday . The stock traded as low as $26.83 and last traded at $27.39, with a volume of 265,769 shares changing hands. The stock had previously closed at $28.35.

Separately, Zacks Investment Research lowered shares of DXP Enterprises from a “hold” rating to a “strong sell” rating in a report on Monday, May 16th.

The stock’s market capitalization is $404.16 million. The stock’s 50-day moving average price is $17.38 and its 200-day moving average price is $16.73.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Tuesday, August 9th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.39. The company had revenue of $256.22 million for the quarter, compared to analyst estimates of $250.65 million. DXP Enterprises’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts predict that DXP Enterprises Inc. will post $0.26 earnings per share for the current fiscal year.

In related news, major shareholder Gmt Capital Corp bought 172,746 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average cost of $15.96 per share, for a total transaction of $2,757,026.16. Following the purchase, the insider now directly owns 1,595,545 shares in the company, valued at $25,464,898.20. The purchase was disclosed in a filing with the SEC, which is available through this link.

An institutional investor recently raised its position in DXP Enterprises stock. Morgan Stanley increased its stake in shares of DXP Enterprises Inc. (NASDAQ:DXPE) by 309.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,571 shares of the company’s stock after buying an additional 47,294 shares during the period. Morgan Stanley owned approximately 0.43% of DXP Enterprises worth $1,427,000 as of its most recent filing with the SEC.

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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