Nordea Investment Management AB Makes New $1.60 Million Investment in DXP Enterprises, Inc. $DXPE

Nordea Investment Management AB purchased a new stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 14,407 shares of the industrial products company’s stock, valued at approximately $1,597,000.

A number of other hedge funds have also recently modified their holdings of DXPE. CANADA LIFE ASSURANCE Co increased its position in DXP Enterprises by 0.9% during the second quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company’s stock worth $950,000 after purchasing an additional 100 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of DXP Enterprises by 2.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,119 shares of the industrial products company’s stock valued at $610,000 after buying an additional 119 shares during the period. Private Advisor Group LLC raised its position in shares of DXP Enterprises by 1.2% during the 3rd quarter. Private Advisor Group LLC now owns 10,247 shares of the industrial products company’s stock valued at $1,220,000 after buying an additional 122 shares during the period. Amalgamated Bank lifted its holdings in DXP Enterprises by 3.5% in the third quarter. Amalgamated Bank now owns 3,749 shares of the industrial products company’s stock valued at $446,000 after acquiring an additional 128 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in DXP Enterprises by 1.4% in the third quarter. Federated Hermes Inc. now owns 12,726 shares of the industrial products company’s stock worth $1,515,000 after acquiring an additional 179 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Stock Down 0.3%

DXP Enterprises stock opened at $136.64 on Friday. The company has a market capitalization of $2.12 billion, a PE ratio of 25.40 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.94 and a current ratio of 3.34. DXP Enterprises, Inc. has a fifty-two week low of $67.68 and a fifty-two week high of $171.70. The firm has a 50 day moving average price of $138.72 and a 200 day moving average price of $120.52.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%.The company had revenue of $527.39 million for the quarter, compared to analysts’ expectations of $499.00 million. Research analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on DXPE shares. Loop Capital set a $154.00 target price on DXP Enterprises in a research note on Monday, March 2nd. Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of DXP Enterprises from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $154.00.

Insider Activity

In related news, Director Joseph R. Mannes sold 1,500 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $137.95, for a total transaction of $206,925.00. Following the transaction, the director owned 13,964 shares of the company’s stock, valued at approximately $1,926,333.80. This represents a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.70% of the company’s stock.

DXP Enterprises Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.