Cornercap Investment Counsel Inc. Invests $507,000 in DXP Enterprises, Inc. (NASDAQ:DXPE)

Cornercap Investment Counsel Inc. purchased a new position in DXP Enterprises, Inc. (NASDAQ:DXPE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,044 shares of the industrial products company’s stock, valued at approximately $507,000.

Other hedge funds have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of DXP Enterprises in the 3rd quarter worth approximately $32,000. Lazard Asset Management LLC boosted its position in shares of DXP Enterprises by 117.7% in the 3rd quarter. Lazard Asset Management LLC now owns 910 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 492 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of DXP Enterprises by 216.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,197 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 819 shares in the last quarter. Point72 Middle East FZE bought a new stake in shares of DXP Enterprises in the 2nd quarter worth approximately $46,000. Finally, Captrust Financial Advisors boosted its position in shares of DXP Enterprises by 67.8% in the 1st quarter. Captrust Financial Advisors now owns 1,606 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 649 shares in the last quarter. 74.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised DXP Enterprises from a “c+” rating to a “b-” rating in a research report on Thursday, March 14th.

DXP Enterprises Stock Performance

DXPE stock opened at $52.47 on Wednesday. The stock has a market capitalization of $848.96 million, a PE ratio of 13.52 and a beta of 1.72. DXP Enterprises, Inc. has a 12-month low of $22.06 and a 12-month high of $57.38. The company has a current ratio of 2.89, a quick ratio of 2.43 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $44.15 and its 200 day simple moving average is $36.65.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Thursday, March 7th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter. The business had revenue of $407.04 million for the quarter. DXP Enterprises had a return on equity of 19.30% and a net margin of 4.10%. During the same period last year, the company posted $0.50 earnings per share. As a group, research analysts forecast that DXP Enterprises, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $49.14, for a total value of $491,400.00. Following the transaction, the chief marketing officer now directly owns 621,723 shares of the company’s stock, valued at approximately $30,551,468.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.10% of the stock is currently owned by insiders.

DXP Enterprises Company Profile

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).