Wellington Management Group LLP Reduces Stock Position in DXP Enterprises, Inc. $DXPE

Wellington Management Group LLP cut its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE) by 14.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 825,272 shares of the industrial products company’s stock after selling 141,389 shares during the period. Wellington Management Group LLP owned 0.05% of DXP Enterprises worth $139,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of DXP Enterprises by 29.4% during the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 1,153 shares in the last quarter. Millennium Management LLC grew its position 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 purchasing an additional 112,021 shares in the last quarter. Jane Street Group LLC grew its position 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 purchasing an additional 47,909 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DXP Enterprises by 9.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company’s stock valued at $5,874,000 after purchasing an additional 5,820 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of DXP Enterprises by 19.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,699 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 761 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

DXP Enterprises Trading Up 1.0%

Shares of DXPE stock opened at $187.73 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99. DXP Enterprises, Inc. has a 52-week low of $84.04 and a 52-week high of $208.00. The company has a market capitalization of $2.91 billion, a PE ratio of 33.05 and a beta of 0.98. The business’s fifty day moving average is $174.37 and its 200 day moving average is $158.84.

DXP Enterprises (NASDAQ:DXPE) last posted its 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 return on equity of 18.51% and a net margin of 4.35%.The business had revenue of $576.46 million during the quarter, compared to analysts’ expectations of $543.00 million.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen upgraded DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Stephens increased their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, DXP Enterprises has a consensus rating of “Moderate Buy” and an average target price of $187.00.

Insider Buying and Selling at DXP Enterprises

In other news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the sale, the chief marketing officer owned 590,262 shares in the company, valued at approximately $97,021,364.94. This trade represents a 1.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.00% of the stock is currently owned by insiders.

About DXP Enterprises

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.