DXP Enterprises (NASDAQ:DXPE) Releases Earnings Results, Misses Expectations By $0.11 EPS

DXP Enterprises (NASDAQ:DXPE) announced its quarterly earnings data on Thursday. The industrial products company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11), Zacks reports. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The business had revenue of $513.72 million for the quarter, compared to analyst estimates of $499.00 million.

DXP Enterprises Price Performance

NASDAQ:DXPE traded down $21.64 during mid-day trading on Thursday, hitting $100.37. 416,433 shares of the company’s stock traded hands, compared to its average volume of 179,554. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79. The company has a market cap of $1.58 billion, a PE ratio of 19.15 and a beta of 1.15. The firm’s 50 day simple moving average is $119.84 and its 200 day simple moving average is $103.58. DXP Enterprises has a 1 year low of $66.17 and a 1 year high of $130.97.

Analysts Set New Price Targets

DXPE has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DXP Enterprises in a research note on Wednesday, October 8th. Singular Research raised shares of DXP Enterprises to a “moderate buy” rating in a report on Tuesday, September 9th. Finally, Wall Street Zen lowered shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $95.00.

Insiders Place Their Bets

In other news, Director Karen Hoffman sold 2,399 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $125.00, for a total transaction of $299,875.00. Following the completion of the transaction, the director directly owned 4,787 shares of the company’s stock, valued at $598,375. This trade represents a 33.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Paz Maestas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.11, for a total value of $600,550.00. Following the completion of the sale, the chief marketing officer directly owned 600,737 shares in the company, valued at approximately $72,154,521.07. The trade was a 0.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 41,316 shares of company stock valued at $4,960,704. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of DXP Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of DXP Enterprises by 661.5% during the 1st quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 112,021 shares during the last quarter. JPMorgan Chase & Co. boosted its position in DXP Enterprises by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 67,018 shares of the industrial products company’s stock worth $5,874,000 after acquiring an additional 5,820 shares during the last quarter. Jane Street Group LLC boosted its position in DXP Enterprises by 433.8% during the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock worth $4,850,000 after acquiring an additional 47,909 shares during the last quarter. BNP Paribas Financial Markets grew its stake in DXP Enterprises by 27.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 43,935 shares of the industrial products company’s stock worth $3,851,000 after acquiring an additional 9,593 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in DXP Enterprises by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 43,343 shares of the industrial products company’s stock valued at $3,799,000 after acquiring an additional 2,976 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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).