California State Teachers Retirement System Boosts Stake in DXP Enterprises Inc. (DXPE)
California State Teachers Retirement System increased its stake in DXP Enterprises Inc. (NASDAQ:DXPE) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 27,160 shares of the company’s stock after buying an additional 498 shares during the period. California State Teachers Retirement System owned 0.19% of DXP Enterprises worth $405,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of DXP Enterprises during the first quarter valued at about $258,000. Strs Ohio raised its position in shares of DXP Enterprises by 200.0% in the second quarter. Strs Ohio now owns 28,200 shares of the company’s stock valued at $421,000 after buying an additional 18,800 shares during the period. Spark Investment Management LLC bought a new position in shares of DXP Enterprises during the first quarter valued at about $528,000. Jacobs Levy Equity Management Inc. bought a new position in shares of DXP Enterprises during the first quarter valued at about $788,000. Finally, Simplex Trading LLC bought a new position in shares of DXP Enterprises during the second quarter valued at about $911,000. Institutional investors own 81.25% of the company’s stock.
DXP Enterprises Inc. (NASDAQ:DXPE) traded down 0.28% during mid-day trading on Thursday, reaching $28.64. 149,835 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $27.50 and its 200 day moving average price is $20.40. DXP Enterprises Inc. has a one year low of $12.67 and a one year high of $33.82. The firm’s market cap is $415.37 million.
DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.39. The business had revenue of $256.22 million for the quarter, compared to analysts’ expectations of $250.65 million. DXP Enterprises had a negative net margin of 5.07% and a positive return on equity of 6.74%. The company’s revenue was down 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. On average, equities analysts forecast that DXP Enterprises Inc. will post $0.26 EPS for the current year.
Several brokerages recently issued reports on DXPE. Zacks Investment Research upgraded shares of DXP Enterprises from a “strong sell” rating to a “hold” rating in a research report on Friday, July 15th. Stephens set a $45.00 target price on shares of DXP Enterprises and gave the stock a “buy” rating in a research report on Sunday, August 21st.
In other news, SVP John Jay Jeffery sold 1,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $28.07, for a total transaction of $28,070.00. Following the sale, the senior vice president now directly owns 14,221 shares in the company, valued at approximately $399,183.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gmt Capital Corp acquired 172,746 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $15.96 per share, for a total transaction of $2,757,026.16. Following the completion of the transaction, the insider now directly owns 1,595,545 shares in the company, valued at $25,464,898.20. The disclosure for this purchase can be found here. Insiders own 11.30% of the company’s stock.
DXP Enterprises Company Profile
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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