DXP Enterprises, Inc. $DXPE Stock Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC lifted its position in DXP Enterprises, Inc. (NASDAQ:DXPE) by 110.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,271 shares of the industrial products company’s stock after buying an additional 9,070 shares during the quarter. DXP Enterprises accounts for approximately 2.2% of SummerHaven Investment Management LLC’s portfolio, making the stock its 3rd biggest position. SummerHaven Investment Management LLC’s holdings in DXP Enterprises were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in DXP Enterprises in the second quarter valued at $13,566,000. Globeflex Capital L P purchased a new stake in DXP Enterprises during the 2nd quarter worth about $6,507,000. Congress Asset Management Co. boosted its position in shares of DXP Enterprises by 21.7% during the 3rd quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock worth $11,600,000 after acquiring an additional 11,423 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of DXP Enterprises during the 1st quarter worth about $1,226,000. Finally, Odyssean LLC boosted its position in shares of DXP Enterprises by 96.3% during the 2nd quarter. Odyssean LLC now owns 17,000 shares of the industrial products company’s stock worth $2,869,000 after acquiring an additional 8,340 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Analyst Upgrades and Downgrades

DXPE has been the topic of a number of recent analyst reports. Weiss Ratings upgraded DXP Enterprises from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. Stephens boosted their target price on DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded DXP Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

DXP Enterprises Trading Down 1.1%

NASDAQ DXPE opened at $175.79 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.58. The firm’s fifty day moving average price is $187.14 and its 200 day moving average price is $169.09. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 30.95 and a beta of 1.03. DXP Enterprises, Inc. has a 12 month low of $84.04 and a 12 month high of $208.00.

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

About DXP Enterprises

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies products and technical solutions used to maintain, repair and operate industrial facilities, with a focus on fluid-handling equipment and other critical components.

Its product offerings include pumps, valves, motors, bearings, power-transmission equipment, hoses, gaskets, safety products and other industrial supplies. DXP also provides engineered pumping systems, equipment repair, field services, technical support and supply-chain management solutions designed to help customers improve operating efficiency and reduce equipment downtime.

DXP serves customers across a range of industries, including energy, petrochemical, mining, food and beverage, water and wastewater, manufacturing and general industrial markets.