DXP Enterprises (NASDAQ:DXPE) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

DXP Enterprises (NASDAQ:DXPE) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17, Zacks reports. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.

DXP Enterprises Stock Down 1.5%

Shares of DXPE traded down $2.61 during mid-day trading on Wednesday, hitting $168.37. The company’s stock had a trading volume of 172,006 shares, compared to its average volume of 122,130. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. The company’s 50-day moving average is $163.05 and its 200-day moving average is $151.36. DXP Enterprises has a 52-week low of $84.04 and a 52-week high of $183.91. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 31.47 and a beta of 0.98.

Wall Street Analyst Weigh In

DXPE has been the topic of several recent analyst reports. Zacks Research downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings cut DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.00.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 10,000 shares of the stock in a transaction on 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 sale, the chief marketing officer owned 590,262 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy P. Halter sold 6,842 shares of DXP Enterprises stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total value of $968,758.78. Following the completion of the transaction, the director owned 30,000 shares in the company, valued at $4,247,700. This represents a 18.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 22.00% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of DXPE. CANADA LIFE ASSURANCE Co grew its stake in DXP Enterprises by 0.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,857 shares of the industrial products company’s stock worth $950,000 after buying an additional 100 shares during the last quarter. Private Advisor Group LLC raised its stake in DXP Enterprises by 1.2% in the third quarter. Private Advisor Group LLC now owns 10,247 shares of the industrial products company’s stock valued at $1,220,000 after buying an additional 122 shares during the last quarter. Franklin Resources Inc. raised its stake in DXP Enterprises by 2.0% in the third quarter. Franklin Resources Inc. now owns 9,228 shares of the industrial products company’s stock valued at $1,099,000 after buying an additional 185 shares during the last quarter. Swiss National Bank boosted its holdings in DXP Enterprises by 1.2% in the third quarter. Swiss National Bank now owns 25,800 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 300 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in DXP Enterprises by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 6,616 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 311 shares in the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Company 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.