Teacher Retirement System of Texas Decreases Stock Holdings in DXP Enterprises, Inc. $DXPE

Teacher Retirement System of Texas cut its stake in DXP Enterprises, Inc. (NASDAQ:DXPE) by 29.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,298 shares of the industrial products company’s stock after selling 3,858 shares during the period. Teacher Retirement System of Texas’ holdings in DXP Enterprises were worth $815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DXPE. Informed Momentum Co LLC purchased a new position in shares of DXP Enterprises in the first quarter valued at $1,731,000. Sei Investments Co. grew its stake in DXP Enterprises by 3.0% in the 1st quarter. Sei Investments Co. now owns 92,330 shares of the industrial products company’s stock valued at $7,627,000 after acquiring an additional 2,663 shares during the last quarter. Private Advisor Group LLC acquired a new stake in DXP Enterprises in the 1st quarter valued at about $791,000. Envestnet Asset Management Inc. purchased a new position in DXP Enterprises during the 1st quarter valued at about $1,420,000. Finally, Invesco Ltd. raised its position in DXP Enterprises by 22.6% during the first quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company’s stock worth $23,068,000 after acquiring an additional 51,664 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other DXP Enterprises news, insider Christopher T. Gregory sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $122.00, for a total value of $610,000.00. Following the sale, the insider directly owned 24,436 shares of the company’s stock, valued at approximately $2,981,192. This trade represents a 16.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nicholas Little sold 20,440 shares of DXP Enterprises stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $118.53, for a total value of $2,422,753.20. Following the completion of the sale, the chief operating officer owned 791,888 shares of the company’s stock, valued at $93,862,484.64. This trade represents a 2.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,316 shares of company stock valued at $4,960,704 in the last three months. Company insiders own 22.40% of the company’s stock.

DXP Enterprises Stock Up 0.6%

DXPE stock opened at $101.02 on Friday. The company has a 50 day moving average price of $119.36 and a two-hundred day moving average price of $103.74. 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 stock has a market capitalization of $1.59 billion, a P/E ratio of 19.28 and a beta of 1.15. DXP Enterprises, Inc. has a one year low of $67.31 and a one year high of $130.97.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.11). 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 analysts’ expectations of $499.00 million. As a group, sell-side analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DXPE shares. Weiss Ratings reissued a “buy (b)” rating on shares of DXP Enterprises in a research note on Wednesday, October 8th. Singular Research upgraded DXP Enterprises to a “moderate buy” rating in a report on Tuesday, September 9th. Finally, Wall Street Zen cut DXP Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $95.00.

DXP Enterprises Company Profile

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).