Schwab Charles Investment Management Inc. boosted its stake in shares of DXP Enterprises Inc (NASDAQ:DXPE) by 14.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 66,396 shares of the industrial products company’s stock after purchasing an additional 8,483 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in DXP Enterprises were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its stake in DXP Enterprises by 59.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,820 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 2,180 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in DXP Enterprises by 46.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,346 shares of the industrial products company’s stock valued at $263,000 after acquiring an additional 2,658 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in DXP Enterprises during the 3rd quarter valued at $290,000. The Manufacturers Life Insurance Company raised its stake in DXP Enterprises by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,000 shares of the industrial products company’s stock valued at $448,000 after acquiring an additional 654 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in DXP Enterprises by 9.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 22,960 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 2,011 shares in the last quarter. 75.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Todd Hamlin sold 2,500 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $29.68, for a total value of $74,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David R. Little sold 13,500 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $29.50, for a total value of $398,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,368,214 shares in the company, valued at approximately $40,362,313. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock worth $944,900 in the last ninety days. 11.30% of the stock is owned by company insiders.
Several analysts have weighed in on the company. Zacks Investment Research raised DXP Enterprises from a “hold” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a research note on Friday. Stephens set a $48.00 target price on DXP Enterprises and gave the company a “buy” rating in a research note on Wednesday. Finally, BidaskClub downgraded DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.33.
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DXP Enterprises Company Profile
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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