Denali Advisors LLC Takes Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

Denali Advisors LLC bought a new position in DXP Enterprises, Inc. (NASDAQ:DXPE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,340 shares of the industrial products company’s stock, valued at approximately $1,020,000. Denali Advisors LLC owned approximately 0.08% of DXP Enterprises at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DXPE. FMR LLC grew its stake in DXP Enterprises by 21.8% during the third quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock worth $41,458,000 after buying an additional 139,027 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of DXP Enterprises by 193.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock worth $5,232,000 after acquiring an additional 64,611 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in DXP Enterprises during the 3rd quarter worth approximately $3,355,000. Pacer Advisors Inc. increased its holdings in DXP Enterprises by 4.1% during the 3rd quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company’s stock valued at $39,731,000 after purchasing an additional 29,131 shares in the last quarter. Finally, 272 Capital LP bought a new position in DXP Enterprises in the 3rd quarter valued at $1,380,000. Institutional investors own 74.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DXPE. Stephens increased their target price on DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. StockNews.com cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Insider Activity

In related news, insider Christopher T. Gregory sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total value of $73,100.00. Following the transaction, the insider now directly owns 29,606 shares in the company, valued at $2,164,198.60. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.40% of the stock is currently owned by insiders.

DXP Enterprises Stock Up 3.8 %

NASDAQ:DXPE opened at $91.05 on Thursday. The stock’s fifty day moving average price is $93.66 and its two-hundred day moving average price is $70.95. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 23.47 and a beta of 1.67. DXP Enterprises, Inc. has a 52-week low of $34.99 and a 52-week high of $107.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22.

DXP Enterprises 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).