Insider Selling: DXP Enterprises (NASDAQ:DXPE) CMO Sells 10,000 Shares of Stock

DXP Enterprises, Inc. (NASDAQ:DXPE) CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total transaction of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at $97,021,364.94. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DXP Enterprises Stock Up 4.4%

DXPE stock traded up $7.04 during midday trading on Thursday, hitting $167.44. The company’s stock had a trading volume of 118,764 shares, compared to its average volume of 137,070. The company has a quick ratio of 2.56, a current ratio of 2.98 and a debt-to-equity ratio of 1.60. DXP Enterprises, Inc. has a 52-week low of $75.58 and a 52-week high of $183.91. The firm has a market capitalization of $2.60 billion, a P/E ratio of 31.30 and a beta of 0.99. The firm has a 50-day simple moving average of $154.44 and a 200-day simple moving average of $135.28.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). The firm had revenue of $521.66 million during the quarter, compared to analysts’ expectations of $531.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%. As a group, equities analysts forecast that DXP Enterprises, Inc. will post 6.2 EPS for the current year.

Analysts Set New Price Targets

DXPE has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DXP Enterprises in a report on Friday, May 22nd. Freedom Capital downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Loop Capital set a $154.00 price objective on shares of DXP Enterprises in a research report on Monday, March 2nd. Finally, Zacks Research downgraded shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, DXP Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in shares of DXP Enterprises by 26.3% during the 1st quarter. California State Teachers Retirement System now owns 15,623 shares of the industrial products company’s stock worth $2,183,000 after purchasing an additional 3,256 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of DXP Enterprises by 139.8% during the 1st quarter. Quantinno Capital Management LP now owns 8,817 shares of the industrial products company’s stock worth $1,232,000 after purchasing an additional 5,140 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of DXP Enterprises during the 1st quarter worth approximately $335,000. First Trust Advisors LP increased its stake in shares of DXP Enterprises by 1.1% during the 1st quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company’s stock worth $9,590,000 after purchasing an additional 756 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of DXP Enterprises during the first quarter worth about $51,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

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.