Joseph Mannes Sells 1,500 Shares of DXP Enterprises (NASDAQ:DXPE) Stock

DXP Enterprises, Inc. (NASDAQ:DXPE) Director Joseph Mannes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the completion of the sale, the director directly owned 13,964 shares in the company, valued at $1,926,333.80. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

DXP Enterprises Stock Performance

DXP Enterprises stock opened at $136.14 on Thursday. The company has a quick ratio of 2.94, a current ratio of 3.34 and a debt-to-equity ratio of 1.64. The stock has a market cap of $2.11 billion, a PE ratio of 25.30 and a beta of 0.96. DXP Enterprises, Inc. has a 12-month low of $67.68 and a 12-month high of $171.70. The business’s 50-day moving average price is $133.58 and its two-hundred day moving average price is $119.64.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Wednesday, February 25th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.48. DXP Enterprises had a net margin of 4.40% and a return on equity of 18.83%. The firm 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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DXP Enterprises

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of DXP Enterprises by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock worth $133,867,000 after acquiring an additional 137,577 shares during the last quarter. Vanguard Group Inc. boosted its holdings in DXP Enterprises by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 964,360 shares of the industrial products company’s stock valued at $105,877,000 after acquiring an additional 18,414 shares during the last quarter. Wasatch Advisors LP boosted its holdings in DXP Enterprises by 480.2% in the fourth quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock valued at $82,859,000 after acquiring an additional 624,638 shares during the last quarter. American Century Companies Inc. increased its position in DXP Enterprises by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 562,210 shares of the industrial products company’s stock valued at $49,278,000 after purchasing an additional 110,482 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in DXP Enterprises by 12,369,100.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock valued at $40,785,000 after purchasing an additional 371,073 shares during the period. Institutional investors own 74.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DXPE. Wall Street Zen downgraded shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a research note on Monday, December 29th. Finally, Loop Capital set a $154.00 price target on DXP Enterprises in a research note on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $154.00.

DXP Enterprises Company Profile

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.