BNP Paribas Arbitrage SA Increases Stake in DXP Enterprises Inc (DXPE)
BNP Paribas Arbitrage SA lifted its holdings in DXP Enterprises Inc (NASDAQ:DXPE) by 46.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,346 shares of the industrial products company’s stock after purchasing an additional 2,658 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in DXP Enterprises were worth $263,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in DXP Enterprises by 8.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 219 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in DXP Enterprises by 3.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 110 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in DXP Enterprises during the second quarter worth $152,000. Capstone Asset Management Co. raised its position in DXP Enterprises by 1.2% during the second quarter. Capstone Asset Management Co. now owns 5,976 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 70 shares in the last quarter. Finally, Voya Investment Management LLC bought a new stake in DXP Enterprises during the second quarter worth $243,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of DXP Enterprises Inc (DXPE) opened at $28.27 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.79 and a debt-to-equity ratio of 0.91. DXP Enterprises Inc has a 1 year low of $24.86 and a 1 year high of $42.00. The stock has a market cap of $469.93, a price-to-earnings ratio of 27.57 and a beta of 2.65.
DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.06). DXP Enterprises had a return on equity of 6.87% and a net margin of 1.83%. The firm had revenue of $251.90 million for the quarter, compared to the consensus estimate of $250.42 million. During the same period last year, the company posted $0.02 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. equities analysts anticipate that DXP Enterprises Inc will post 0.72 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered shares of DXP Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.00.
DXP Enterprises 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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