DXP Enterprises (NASDAQ:DXPE) Reaches New 12-Month High – Here’s What Happened

DXP Enterprises, Inc. (NASDAQ:DXPE) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $102.18 and last traded at $98.55, with a volume of 487049 shares trading hands. The stock had previously closed at $96.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stephens lifted their price target on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

DXP Enterprises Stock Performance

The company has a market cap of $1.61 billion, a P/E ratio of 26.46 and a beta of 1.67. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The business has a fifty day simple moving average of $79.30 and a two-hundred day simple moving average of $61.03.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $472.94 million for the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same quarter last year, the company earned $0.93 EPS. On average, sell-side analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Transactions at DXP Enterprises

In other news, insider Christopher T. Gregory sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total value of $73,100.00. Following the transaction, the insider now owns 29,606 shares of the company’s stock, valued at $2,164,198.60. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXPE. Principal Financial Group Inc. boosted its position in shares of DXP Enterprises by 0.3% in the third quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock worth $3,682,000 after purchasing an additional 178 shares during the period. Jane Street Group LLC lifted its stake in shares of DXP Enterprises by 9.6% during the 3rd quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock valued at $316,000 after buying an additional 517 shares in the last quarter. Quantbot Technologies LP bought a new position in DXP Enterprises in the 3rd quarter worth $41,000. Federated Hermes Inc. increased its stake in DXP Enterprises by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock worth $502,000 after buying an additional 888 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in DXP Enterprises by 4.4% during the second quarter. Public Sector Pension Investment Board now owns 28,735 shares of the industrial products company’s stock valued at $1,317,000 after acquiring an additional 1,208 shares during the period. 74.82% of the stock is owned by hedge funds and other institutional investors.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).