DXP Enterprises, Inc. $DXPE Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in DXP Enterprises, Inc. (NASDAQ:DXPE) by 18.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 62,110 shares of the industrial products company’s stock after selling 14,340 shares during the quarter. Principal Financial Group Inc.’s holdings in DXP Enterprises were worth $8,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DXPE. Royal Bank of Canada raised its position in shares of DXP Enterprises by 29.4% during the 1st quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock worth $417,000 after buying an additional 1,153 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after acquiring an additional 112,021 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of DXP Enterprises by 433.8% in the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock valued at $4,850,000 after acquiring an additional 47,909 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of DXP Enterprises by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company’s stock valued at $5,874,000 after acquiring an additional 5,820 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of DXP Enterprises by 19.3% during the second quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 761 shares during the period. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Price Performance

NASDAQ DXPE opened at $168.94 on Monday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.98 and a quick ratio of 2.56. The company’s 50 day simple moving average is $160.54 and its 200 day simple moving average is $148.66. DXP Enterprises, Inc. has a 12 month low of $84.04 and a 12 month high of $183.91. The company has a market capitalization of $2.62 billion, a P/E ratio of 31.58 and a beta of 0.97.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.12). The business had revenue of $521.66 million for the quarter, compared to analyst estimates of $531.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. Equities research analysts expect that DXP Enterprises, Inc. will post 6.2 earnings per share for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In other news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the sale, the director directly owned 30,000 shares of the company’s stock, valued at $4,247,700. This trade represents a 18.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer owned 590,262 shares in the company, valued at $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 22.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DXP Enterprises presently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

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.