DXP Enterprises (NASDAQ:DXPE) Sees Strong Trading Volume – Here’s Why

DXP Enterprises, Inc. (NASDAQ:DXPE) saw strong trading volume on Monday . 108,287 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 134,438 shares.The stock last traded at $142.1750 and had previously closed at $143.34.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Loop Capital set a $154.00 price objective on DXP Enterprises in a research report on Monday, March 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Zacks Research raised DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen raised DXP Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $154.00.

DXP Enterprises Price Performance

The company has a debt-to-equity ratio of 1.64, a current ratio of 3.34 and a quick ratio of 2.94. The stock has a 50 day moving average price of $140.76 and a two-hundred day moving average price of $121.78. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 26.84 and a beta of 0.96.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.48. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%.The business had revenue of $527.39 million during the quarter, compared to analysts’ expectations of $499.00 million. As a group, analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Transactions at DXP Enterprises

In related news, Director Joseph R. Mannes sold 1,500 shares of DXP Enterprises stock in a transaction on Monday, March 9th. The stock was sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the transaction, the director directly owned 13,964 shares in the company, valued at approximately $1,926,333.80. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 22.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HM Payson & Co. purchased a new position in DXP Enterprises in the third quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its holdings in DXP Enterprises by 3,507.7% in the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. TD Waterhouse Canada Inc. purchased a new position in DXP Enterprises in the third quarter valued at $58,000. Clearstead Advisors LLC boosted its holdings in DXP Enterprises by 164.5% in the fourth quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 306 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in DXP Enterprises by 35.4% in the fourth quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 225 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

About DXP Enterprises

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.