American Century Companies Inc. Lowers Position in DXP Enterprises, Inc. (DXPE)
American Century Companies Inc. cut its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE) by 21.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,863 shares of the industrial products company’s stock after selling 46,374 shares during the quarter. American Century Companies Inc. owned approximately 0.96% of DXP Enterprises worth $5,757,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in DXPE. Hood River Capital Management LLC purchased a new stake in DXP Enterprises in the first quarter worth about $8,108,000. Dimensional Fund Advisors LP lifted its stake in DXP Enterprises by 16.8% in the first quarter. Dimensional Fund Advisors LP now owns 719,426 shares of the industrial products company’s stock worth $27,243,000 after acquiring an additional 103,298 shares during the period. JPMorgan Chase & Co. lifted its stake in DXP Enterprises by 15.6% in the first quarter. JPMorgan Chase & Co. now owns 551,083 shares of the industrial products company’s stock worth $20,869,000 after acquiring an additional 74,262 shares during the period. Vanguard Group Inc. lifted its stake in DXP Enterprises by 5.9% in the first quarter. Vanguard Group Inc. now owns 778,746 shares of the industrial products company’s stock worth $29,490,000 after acquiring an additional 43,270 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in DXP Enterprises by 55.7% in the second quarter. Russell Investments Group Ltd. now owns 107,083 shares of the industrial products company’s stock worth $3,694,000 after acquiring an additional 38,289 shares during the period. 74.18% of the stock is owned by institutional investors.
Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) opened at 27.28 on Friday. DXP Enterprises, Inc. has a 1-year low of $19.61 and a 1-year high of $42.00. The stock has a market capitalization of $474.70 million, a price-to-earnings ratio of 31.72 and a beta of 2.64. The company has a 50-day moving average of $27.84 and a 200-day moving average of $33.45.
DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $250.69 million during the quarter, compared to the consensus estimate of $246.15 million. DXP Enterprises had a return on equity of 6.15% and a net margin of 1.58%. DXP Enterprises’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, equities research analysts expect that DXP Enterprises, Inc. will post $0.77 EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of DXP Enterprises from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 30th. KeyCorp reaffirmed a “sector weight” rating on shares of DXP Enterprises in a research note on Friday, May 26th. Zacks Investment Research lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Sidoti reaffirmed a “buy” rating and issued a $49.00 price objective (up from $47.00) on shares of DXP Enterprises in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.67.
About DXP Enterprises
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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