DXP Enterprises, Inc. (DXPE) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp increased its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 14.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 200,529 shares of the industrial products company’s stock after purchasing an additional 25,588 shares during the period. Bank of New York Mellon Corp owned approximately 1.15% of DXP Enterprises worth $6,919,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Convergence Investment Partners LLC purchased a new position in shares of DXP Enterprises during the 2nd quarter worth approximately $1,180,000. ClariVest Asset Management LLC purchased a new position in shares of DXP Enterprises during the 2nd quarter worth approximately $932,000. Algert Global LLC purchased a new position in shares of DXP Enterprises during the 2nd quarter worth approximately $290,000. Texas Permanent School Fund boosted its position in shares of DXP Enterprises by 1.3% during the 2nd quarter. Texas Permanent School Fund now owns 11,318 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 147 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of DXP Enterprises by 3.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 110 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.
DXPE has been the subject of a number of research analyst reports. BidaskClub cut shares of DXP Enterprises from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 30th. Zacks Investment Research cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $37.67.
DXP Enterprises, Inc. (NASDAQ:DXPE) opened at 31.49 on Friday. DXP Enterprises, Inc. has a 12 month low of $19.61 and a 12 month high of $42.00. The firm has a 50-day moving average of $27.42 and a 200 day moving average of $33.10. The stock has a market cap of $547.96 million, a PE ratio of 36.62 and a beta of 2.64.
DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. DXP Enterprises had a net margin of 1.58% and a return on equity of 6.15%. The firm had revenue of $250.69 million during the quarter, compared to analyst estimates of $246.15 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. DXP Enterprises’s revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts anticipate that DXP Enterprises, Inc. will post $0.76 EPS for the current year.
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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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