DXP Enterprises, Inc. $DXPE Stock: Hennessy Advisors Inc. Reduces Stake

Hennessy Advisors Inc. cut its stake in DXP Enterprises, Inc. (NASDAQ:DXPE) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,239 shares of the industrial products company’s stock after selling 5,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.32% of DXP Enterprises worth $9,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in DXP Enterprises in the second quarter worth approximately $13,566,000. Globeflex Capital L P bought a new stake in shares of DXP Enterprises in the 2nd quarter worth $6,507,000. Congress Asset Management Co. raised its stake in shares of DXP Enterprises by 21.7% in the 3rd quarter. Congress Asset Management Co. now owns 64,015 shares of the industrial products company’s stock worth $11,600,000 after buying an additional 11,423 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of DXP Enterprises by 110.6% in the 3rd quarter. SummerHaven Investment Management LLC now owns 17,271 shares of the industrial products company’s stock worth $3,130,000 after buying an additional 9,070 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in shares of DXP Enterprises in the first quarter valued at $1,226,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Stock Performance

Shares of NASDAQ DXPE opened at $174.46 on Monday. The business has a 50 day simple moving average of $182.21 and a 200 day simple moving average of $161.03. DXP Enterprises, Inc. has a 52 week low of $84.04 and a 52 week high of $208.00. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 30.71 and a beta of 1.04. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.58 and a current ratio of 2.99.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $543.00 million.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DXPE shares. Wall Street Zen cut DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Stephens boosted their price target on shares of DXP Enterprises from $160.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of DXP Enterprises from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, October 26th. 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.com, DXP Enterprises presently has an average rating of “Moderate Buy” and an average target price of $187.00.

DXP Enterprises Company Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies maintenance, repair and operating products used by industrial, commercial and government customers, with an emphasis on rotating equipment, fluid handling and related industrial applications.

Its product offerings include pumps, valves, bearings, power-transmission components, hose and rubber products, industrial supplies, safety equipment and other maintenance products.