Key Points
- DXP Enterprises director Timothy Halter sold 6,842 shares on May 21 at an average price of $141.59, totaling about $968,759. After the sale, he still held 30,000 shares, reducing his position by 18.57%.
- DXPE stock was up 2.4% and opened at $147.69, with the company carrying a market cap of $2.29 billion and trading near its 50-day moving average of $149.54.
- Recent earnings missed expectations: DXP reported Q1 EPS of $1.26 versus the $1.38 consensus, and revenue of $521.66 million versus an expected $531 million. Analysts currently have a consensus rating of Moderate Buy with a $154 price target.
DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) Director Timothy Halter sold 6,842 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at $4,247,700. This trade represents a 18.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
DXP Enterprises Stock Up 2.4%
Shares of NASDAQ DXPE opened at $147.69 on Wednesday. The firm has a market capitalization of $2.29 billion, a PE ratio of 27.61 and a beta of 1.07. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. DXP Enterprises, Inc. has a 1 year low of $75.58 and a 1 year high of $183.91. The firm's 50-day moving average is $149.54 and its 200-day moving average is $129.98.
DXP Enterprises (NASDAQ:DXPE - Get Free Report) last issued its earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.12). The business had revenue of $521.66 million during the quarter, compared to the consensus estimate of $531.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. Equities analysts expect that DXP Enterprises, Inc. will post 6.2 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in DXP Enterprises by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company's stock valued at $133,867,000 after buying an additional 137,577 shares in the last quarter. Vanguard Group Inc. lifted its stake in DXP Enterprises by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company's stock valued at $105,877,000 after buying an additional 18,414 shares in the last quarter. Wasatch Advisors LP lifted its stake in DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company's stock valued at $82,859,000 after buying an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in DXP Enterprises by 12,369,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company's stock valued at $40,785,000 after buying an additional 371,073 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in DXP Enterprises by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 335,991 shares of the industrial products company's stock valued at $36,895,000 after buying an additional 9,767 shares in the last quarter. Institutional investors own 74.82% of the company's stock.
Analyst Upgrades and Downgrades
DXPE has been the topic of several recent research reports. Loop Capital set a $154.00 target price on shares of DXP Enterprises in a research note on Monday, March 2nd. Zacks Research lowered shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Freedom Capital lowered shares of DXP Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Wall Street Zen raised shares of DXP Enterprises from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of DXP Enterprises in a research note on Friday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.00.
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About DXP Enterprises
(
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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.
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