Acadian Asset Management LLC Acquires 29,679 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)
Acadian Asset Management LLC raised its stake in DXP Enterprises, Inc. (NASDAQ:DXPE) by 108.4% during the second quarter, Holdings Channel reports. The firm owned 57,050 shares of the industrial products company’s stock after buying an additional 29,679 shares during the period. Acadian Asset Management LLC’s holdings in DXP Enterprises were worth $1,969,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in DXP Enterprises by 28.9% in the fourth quarter. State Street Corp now owns 301,101 shares of the industrial products company’s stock worth $10,457,000 after buying an additional 67,438 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in DXP Enterprises by 26.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 616,128 shares of the industrial products company’s stock worth $21,404,000 after buying an additional 127,241 shares during the last quarter. Guggenheim Capital LLC purchased a new stake in DXP Enterprises during the fourth quarter worth approximately $1,445,000. Thrivent Financial for Lutherans purchased a new stake in DXP Enterprises during the fourth quarter worth approximately $292,000. Finally, Norges Bank purchased a new stake in DXP Enterprises during the fourth quarter worth approximately $4,892,000. Hedge funds and other institutional investors own 73.77% of the company’s stock.
DXP Enterprises, Inc. (NASDAQ:DXPE) traded up 0.38% during midday trading on Tuesday, hitting $28.76. 29,933 shares of the stock traded hands. DXP Enterprises, Inc. has a 12 month low of $15.63 and a 12 month high of $42.00. The company’s 50 day moving average price is $33.93 and its 200 day moving average price is $35.55. The firm has a market cap of $500.45 million, a PE ratio of 33.44 and a beta of 2.63.
DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $250.69 million during the quarter, compared to the consensus estimate of $246.15 million. DXP Enterprises had a return on equity of 6.15% and a net margin of 1.58%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. Equities research analysts predict that DXP Enterprises, Inc. will post $0.78 earnings per share for the current fiscal year.
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A number of equities research analysts have commented on the stock. Sidoti restated a “buy” rating and set a $49.00 target price (up previously from $47.00) on shares of DXP Enterprises in a research note on Wednesday, May 17th. KeyCorp restated a “sector weight” rating on shares of DXP Enterprises in a research note on Friday, May 26th. BidaskClub upgraded shares of DXP Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. DXP Enterprises has a consensus rating of “Hold” and a consensus price target of $39.50.
In related news, insider Kent Nee Hung Yee sold 4,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $37.63, for a total value of $150,520.00. Following the completion of the transaction, the insider now directly owns 40,278 shares of the company’s stock, valued at approximately $1,515,661.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David C. Vinson sold 3,000 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $39.12, for a total value of $117,360.00. Following the completion of the transaction, the vice president now directly owns 6,681 shares of the company’s stock, valued at $261,360.72. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by corporate insiders.
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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