Globeflex Capital L P Acquires Shares of 38,564 DXP Enterprises, Inc. $DXPE

Globeflex Capital L P bought a new position in DXP Enterprises, Inc. (NASDAQ:DXPE) during the second quarter, Holdings Channel.com reports. The institutional investor bought 38,564 shares of the industrial products company’s stock, valued at approximately $6,507,000.

Several other institutional investors and hedge funds have also made changes to their positions in DXPE. EverSource Wealth Advisors LLC increased its stake in shares of DXP Enterprises by 3,507.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 456 shares during the last quarter. KBC Group NV acquired a new position in shares of DXP Enterprises during the 1st quarter valued at about $51,000. Clearstead Advisors LLC boosted its position in shares of DXP Enterprises by 164.5% during the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 306 shares during the last quarter. State of Wyoming purchased a new stake in shares of DXP Enterprises in the fourth quarter valued at about $152,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of DXP Enterprises in the fourth quarter valued at about $154,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $190.28 on Monday. DXP Enterprises, Inc. has a 1-year low of $84.04 and a 1-year high of $208.00. The firm has a market cap of $2.95 billion, a PE ratio of 33.50 and a beta of 0.98. The company has a 50-day moving average of $172.03 and a two-hundred day moving average of $156.98. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.99 and a quick ratio of 2.58.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%. The business had revenue of $576.46 million for the quarter, compared to the consensus estimate of $543.00 million.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other DXP Enterprises news, CMO Paz Maestas sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief marketing officer owned 590,262 shares of the company’s stock, valued at $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.00% of the company’s stock.

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.