JPMorgan Chase & Co. reduced its position in DXP Enterprises Inc. (NASDAQ:DXPE) by 18.8% during the second quarter, Holdings Channel reports. The institutional investor owned 467,705 shares of the company’s stock after selling 108,115 shares during the period. JPMorgan Chase & Co. owned about 3.24% of DXP Enterprises worth $6,983,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in DXPE. State Board of Administration of Florida Retirement System increased its position in shares of DXP Enterprises by 6.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 11,751 shares of the company’s stock worth $175,000 after buying an additional 741 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of DXP Enterprises during the second quarter worth $182,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of DXP Enterprises during the first quarter worth $258,000. Algert Global LLC bought a new position in shares of DXP Enterprises during the first quarter worth $340,000. Finally, California State Teachers Retirement System increased its position in shares of DXP Enterprises by 1.9% in the second quarter. California State Teachers Retirement System now owns 27,160 shares of the company’s stock worth $405,000 after buying an additional 498 shares in the last quarter. 81.25% of the stock is owned by institutional investors.
DXP Enterprises Inc. (NASDAQ:DXPE) traded up 2.37% during midday trading on Monday, hitting $29.82. 18,614 shares of the company were exchanged. The firm’s 50-day moving average price is $27.59 and its 200-day moving average price is $20.15. DXP Enterprises Inc. has a one year low of $12.67 and a one year high of $34.49. The stock’s market capitalization is $432.48 million.
DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.39. The firm had revenue of $256.22 million for the quarter, compared to the consensus estimate of $250.65 million. DXP Enterprises had a negative net margin of 5.07% and a positive return on equity of 6.74%. The business’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Equities research analysts anticipate that DXP Enterprises Inc. will post $0.26 earnings per share for the current year.
A number of equities analysts have weighed in on the stock. Stephens set a $45.00 target price on shares of DXP Enterprises and gave the stock a “buy” rating in a research note on Sunday, August 21st. Zacks Investment Research raised shares of DXP Enterprises from a “strong sell” rating to a “hold” rating in a research note on Friday, July 15th.
In other DXP Enterprises news, SVP John Jay Jeffery sold 1,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $29.80, for a total transaction of $29,800.00. Following the sale, the senior vice president now directly owns 15,221 shares in the company, valued at $453,585.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gmt Capital Corp acquired 172,746 shares of DXP Enterprises stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $15.96 per share, for a total transaction of $2,757,026.16. Following the completion of the purchase, the insider now directly owns 1,595,545 shares of the company’s stock, valued at $25,464,898.20. The disclosure for this purchase can be found here. Company insiders own 11.30% of the company’s stock.
About DXP Enterprises
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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