King Luther Capital Management Corp Cuts Stock Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

King Luther Capital Management Corp lowered its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE) by 22.8% in the third quarter, HoldingsChannel reports. The firm owned 168,963 shares of the industrial products company’s stock after selling 50,000 shares during the quarter. King Luther Capital Management Corp’s holdings in DXP Enterprises were worth $9,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DXPE. CWA Asset Management Group LLC acquired a new stake in shares of DXP Enterprises in the 3rd quarter valued at $1,107,000. Assenagon Asset Management S.A. increased its holdings in shares of DXP Enterprises by 39.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 52,858 shares of the industrial products company’s stock valued at $2,821,000 after acquiring an additional 14,886 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of DXP Enterprises during the 3rd quarter worth about $197,000. Public Sector Pension Investment Board boosted its holdings in DXP Enterprises by 4.4% in the second quarter. Public Sector Pension Investment Board now owns 28,735 shares of the industrial products company’s stock valued at $1,317,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in DXP Enterprises by 7.1% during the second quarter. Sei Investments Co. now owns 83,757 shares of the industrial products company’s stock worth $3,839,000 after purchasing an additional 5,543 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $53.21, for a total transaction of $106,420.00. Following the sale, the chief marketing officer now directly owns 617,367 shares of the company’s stock, valued at $32,850,098.07. This trade represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Stephens increased their target price on shares of DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th.

DXP Enterprises Stock Performance

Shares of DXPE opened at $69.08 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The company has a 50-day simple moving average of $55.67 and a 200-day simple moving average of $51.66. DXP Enterprises, Inc. has a 52-week low of $28.82 and a 52-week high of $73.75. The company has a market capitalization of $1.08 billion, a PE ratio of 17.55 and a beta of 1.60.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $472.94 million for the quarter. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. During the same period last year, the company posted $0.93 EPS. Equities research analysts predict that DXP Enterprises, Inc. will post 3.56 earnings per share for the current fiscal year.

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).