DXP Enterprises (NASDAQ:DXPE) CMO Sells $1,643,700.00 in Stock

DXP Enterprises, Inc. (NASDAQ:DXPE) CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. This represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

DXP Enterprises Stock Performance

Shares of NASDAQ DXPE traded up $7.04 during midday trading on Thursday, reaching $167.44. The company had a trading volume of 118,764 shares, compared to its average volume of 137,070. DXP Enterprises, Inc. has a 1 year low of $75.58 and a 1 year high of $183.91. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. The stock has a market cap of $2.60 billion, a P/E ratio of 31.30 and a beta of 0.99. The business’s 50-day simple moving average is $154.44 and its 200 day simple moving average is $135.28.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.The business had revenue of $521.66 million for the quarter, compared to analysts’ expectations of $531.00 million. On average, analysts forecast that DXP Enterprises, Inc. will post 6.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DXPE. Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Freedom Capital downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DXP Enterprises in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

Institutional Investors Weigh In On DXP Enterprises

A number of hedge funds have recently modified their holdings of DXPE. Royal Bank of Canada grew its holdings in shares of DXP Enterprises by 29.4% in the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 1,153 shares during the period. Millennium Management LLC grew its holdings in shares of DXP Enterprises by 661.5% during the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 112,021 shares during the period. Jane Street Group LLC grew its holdings in shares of DXP Enterprises by 433.8% during the 1st quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock worth $4,850,000 after purchasing an additional 47,909 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of DXP Enterprises by 9.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company’s stock worth $5,874,000 after purchasing an additional 5,820 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of DXP Enterprises by 19.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 761 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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.