DXP Enterprises, Inc. $DXPE Shares Sold by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC cut its position in DXP Enterprises, Inc. (NASDAQ:DXPE) by 48.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,011 shares of the industrial products company’s stock after selling 8,582 shares during the period. DXP Enterprises makes up 0.6% of SummerHaven Investment Management LLC’s holdings, making the stock its 24th largest position. SummerHaven Investment Management LLC owned approximately 0.06% of DXP Enterprises worth $1,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trek Financial LLC purchased a new stake in DXP Enterprises in the third quarter valued at approximately $538,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in DXP Enterprises during the 3rd quarter valued at approximately $327,000. Intrua Financial LLC purchased a new stake in shares of DXP Enterprises in the 3rd quarter valued at $1,848,000. Amalgamated Bank increased its stake in shares of DXP Enterprises by 3.5% in the third quarter. Amalgamated Bank now owns 3,749 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 128 shares during the period. Finally, Spirepoint Private Client LLC acquired a new stake in shares of DXP Enterprises in the third quarter worth $542,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Stock Up 0.2%

Shares of DXPE opened at $127.25 on Wednesday. The firm has a market cap of $2.00 billion, a P/E ratio of 24.10 and a beta of 0.99. DXP Enterprises, Inc. has a 12 month low of $67.68 and a 12 month high of $132.60. The stock’s 50 day moving average is $108.59 and its two-hundred day moving average is $112.47. The company has a current ratio of 2.77, a quick ratio of 2.36 and a debt-to-equity ratio of 1.27.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11). The company had revenue of $513.72 million during the quarter, compared to analyst estimates of $499.00 million. DXP Enterprises had a net margin of 4.45% and a return on equity of 19.62%. Analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DXPE has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a report on Monday, December 29th. Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $95.00.

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.