Comerica Bank Sells 850 Shares of DXP Enterprises, Inc. (DXPE)
Comerica Bank trimmed its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,203 shares of the industrial products company’s stock after selling 850 shares during the quarter. Comerica Bank owned approximately 0.09% of DXP Enterprises worth $540,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in DXP Enterprises in the 1st quarter valued at $102,000. State of Alaska Department of Revenue increased its stake in DXP Enterprises by 78.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,059 shares of the industrial products company’s stock valued at $105,000 after buying an additional 1,349 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in DXP Enterprises by 3.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,530 shares of the industrial products company’s stock valued at $134,000 after buying an additional 130 shares during the period. Mason Street Advisors LLC increased its stake in DXP Enterprises by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 3,608 shares of the industrial products company’s stock valued at $137,000 after buying an additional 236 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in DXP Enterprises in the 1st quarter valued at $201,000. 74.18% of the stock is currently owned by institutional investors and hedge funds.
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DXPE has been the topic of several recent research reports. BidaskClub raised shares of DXP Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $37.67.
DXP Enterprises, Inc. (NASDAQ DXPE) opened at 29.70 on Monday. The stock’s 50 day moving average is $27.42 and its 200-day moving average is $33.10. The firm has a market capitalization of $516.81 million, a PE ratio of 34.53 and a beta of 2.64. DXP Enterprises, Inc. has a 1-year low of $19.61 and a 1-year high of $42.00.
DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $250.69 million for the quarter, compared to analyst estimates of $246.15 million. DXP Enterprises had a return on equity of 6.15% and a net margin of 1.58%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Equities research analysts forecast that DXP Enterprises, Inc. will post $0.77 EPS for the current year.
DXP Enterprises Profile
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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