DXP Enterprises, Inc. $DXPE Stake Lowered by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC trimmed its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 40.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,941 shares of the industrial products company’s stock after selling 10,721 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in DXP Enterprises were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DXPE. EverSource Wealth Advisors LLC grew its stake in DXP Enterprises by 3,507.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after buying an additional 456 shares during the last quarter. KBC Group NV bought a new stake in DXP Enterprises in the first quarter valued at $51,000. Clearstead Advisors LLC lifted its stake in DXP Enterprises by 164.5% in the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after buying an additional 306 shares during the last quarter. State of Wyoming acquired a new position in shares of DXP Enterprises during the fourth quarter valued at $152,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of DXP Enterprises during the fourth quarter valued at $154,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Price Performance

Shares of DXPE opened at $192.36 on Friday. DXP Enterprises, Inc. has a one year low of $84.04 and a one year high of $208.00. The stock’s fifty day moving average is $164.98 and its 200-day moving average is $152.16. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.56 and a current ratio of 2.99. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 33.87 and a beta of 0.98.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17. The business had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DXPE shares. Stephens increased their price objective on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday. Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Insider Transactions at DXP Enterprises

In other news, CMO Paz Maestas sold 10,000 shares of the company’s 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the transaction, the director 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 SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by 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.