DXP Enterprises, Inc. $DXPE Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 5.5% in the third quarter, HoldingsChannel.com reports. The firm owned 63,301 shares of the industrial products company’s stock after selling 3,717 shares during the quarter. JPMorgan Chase & Co.’s holdings in DXP Enterprises were worth $7,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in DXP Enterprises by 29.4% in the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock valued at $417,000 after buying an additional 1,153 shares during the period. Millennium Management LLC increased its position in shares of DXP Enterprises by 661.5% during the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after acquiring an additional 112,021 shares during the last quarter. Jane Street Group LLC increased its position in shares of DXP Enterprises by 433.8% during the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock valued at $4,850,000 after acquiring an additional 47,909 shares during the last quarter. Legal & General Group Plc raised its stake in shares of DXP Enterprises by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 35,138 shares of the industrial products company’s stock valued at $3,080,000 after acquiring an additional 586 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of DXP Enterprises by 17.9% in the 2nd quarter. Franklin Resources Inc. now owns 9,043 shares of the industrial products company’s stock valued at $793,000 after acquiring an additional 1,371 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

DXP Enterprises Stock Down 0.7%

Shares of DXPE opened at $135.74 on Tuesday. The stock has a market capitalization of $2.11 billion, a PE ratio of 25.23 and a beta of 0.96. DXP Enterprises, Inc. has a 1 year low of $67.68 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.94 and a current ratio of 3.34. The company’s 50-day simple moving average is $138.95 and its 200-day simple moving average is $120.69.

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

Insider Transactions at DXP Enterprises

In other DXP Enterprises news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the transaction, the director owned 13,964 shares of the company’s stock, valued at $1,926,333.80. This trade represents a 9.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by company insiders.

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.