DXP Enterprises (NASDAQ:DXPE) Trading Up 8.3%

DXP Enterprises, Inc. (NASDAQ:DXPE) shares rose 8.3% during mid-day trading on Tuesday . The stock traded as high as $51.92 and last traded at $51.92. Approximately 40,112 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 103,559 shares. The stock had previously closed at $47.95.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of DXP Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th.

DXP Enterprises Stock Up 8.9 %

The stock has a market cap of $831.86 million, a price-to-earnings ratio of 14.09 and a beta of 1.60. The firm’s fifty day moving average price is $48.25 and its two-hundred day moving average price is $43.94. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.69 and a quick ratio of 2.22.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.74 earnings per share for the quarter. The business had revenue of $412.64 million for the quarter. DXP Enterprises had a return on equity of 17.93% and a net margin of 3.75%. Sell-side analysts forecast that DXP Enterprises, Inc. will post 3.16 earnings per share for the current fiscal year.

Insider Transactions at DXP Enterprises

In other news, CMO Paz Maestas sold 4,000 shares of DXP Enterprises stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.14, for a total transaction of $192,560.00. Following the completion of the transaction, the chief marketing officer now directly owns 621,867 shares in the company, valued at $29,936,677.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 22.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC bought a new stake in DXP Enterprises in the 4th quarter worth about $80,000. Allspring Global Investments Holdings LLC grew its holdings in shares of DXP Enterprises by 36.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,380 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 1,701 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of DXP Enterprises during the fourth quarter valued at approximately $222,000. Maryland State Retirement & Pension System bought a new stake in DXP Enterprises during the first quarter worth $244,000. Finally, BOKF NA purchased a new position in DXP Enterprises in the first quarter worth $269,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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).