DXP Enterprises, Inc. $DXPE Shares Sold by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC reduced its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE) by 48.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,011 shares of the industrial products company’s stock after selling 8,582 shares during the period. DXP Enterprises makes up 0.6% of SummerHaven Investment Management LLC’s holdings, making the stock its 24th biggest position. SummerHaven Investment Management LLC’s holdings in DXP Enterprises were worth $1,073,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of DXP Enterprises by 2.9% in the second quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock valued at $28,888,000 after purchasing an additional 9,216 shares in the last quarter. Intrua Financial LLC purchased a new stake in DXP Enterprises in the 3rd quarter valued at $1,848,000. Envestnet Asset Management Inc. increased its stake in shares of DXP Enterprises by 23.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the industrial products company’s stock worth $1,871,000 after acquiring an additional 4,087 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of DXP Enterprises by 7.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,566 shares of the industrial products company’s stock worth $663,000 after acquiring an additional 521 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of DXP Enterprises during the 2nd quarter valued at about $531,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Stock Up 0.2%

Shares of NASDAQ DXPE opened at $127.25 on Wednesday. The company has a quick ratio of 2.36, a current ratio of 2.77 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $108.59 and its two-hundred day moving average is $112.47. DXP Enterprises, Inc. has a 52-week low of $67.68 and a 52-week high of $132.60. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 24.10 and a beta of 0.99.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.11). The firm had revenue of $513.72 million for the quarter, compared to analysts’ expectations of $499.00 million. DXP Enterprises had a return on equity of 19.62% and a net margin of 4.45%. Research analysts predict that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on DXPE. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. Wall Street Zen cut DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, DXP Enterprises presently has an average rating of “Buy” and an average price target of $95.00.

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.