DXP Enterprises (NASDAQ:DXPE) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

DXP Enterprises (NASDAQ:DXPE) released its quarterly earnings data on Wednesday. The industrial products company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17, Zacks reports. The firm had revenue of $576.46 million for the quarter, compared to analysts’ expectations of $543.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.

DXP Enterprises Stock Up 11.1%

Shares of DXPE traded up $18.73 during midday trading on Thursday, hitting $187.10. The company had a trading volume of 75,514 shares, compared to its average volume of 156,362. The company’s 50-day simple moving average is $163.05 and its 200-day simple moving average is $151.36. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.56 and a current ratio of 2.98. The firm has a market capitalization of $2.90 billion, a P/E ratio of 34.97 and a beta of 0.98. DXP Enterprises has a 1 year low of $84.04 and a 1 year high of $186.65.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer owned 590,262 shares in the company, valued at $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy P. Halter sold 6,842 shares of DXP Enterprises stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $141.59, for a total value of $968,758.78. Following the sale, the director directly owned 30,000 shares of the company’s stock, valued at $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 22.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of DXP Enterprises by 0.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company’s stock valued at $950,000 after buying an additional 100 shares during the period. Private Advisor Group LLC grew its position in DXP Enterprises by 1.2% in the third quarter. Private Advisor Group LLC now owns 10,247 shares of the industrial products company’s stock valued at $1,220,000 after acquiring an additional 122 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of DXP Enterprises by 2.0% during the third quarter. Franklin Resources Inc. now owns 9,228 shares of the industrial products company’s stock valued at $1,099,000 after purchasing an additional 185 shares during the period. Swiss National Bank lifted its position in shares of DXP Enterprises by 1.2% during the third quarter. Swiss National Bank now owns 25,800 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 300 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in DXP Enterprises by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,616 shares of the industrial products company’s stock valued at $580,000 after purchasing an additional 311 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings cut shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, DXP Enterprises has an average rating of “Moderate Buy” and a consensus price target of $154.00.

About DXP Enterprises

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.