DXP Enterprises, Inc. (NASDAQ:DXPE) Sees Significant Decrease in Short Interest

DXP Enterprises, Inc. (NASDAQ:DXPE) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 529,900 shares, a drop of 7.7% from the September 30th total of 574,300 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average trading volume of 97,600 shares, the short-interest ratio is presently 5.4 days.

Insider Buying and Selling

In other news, CMO Paz Maestas sold 2,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $53.21, for a total transaction of $106,420.00. Following the completion of the sale, the chief marketing officer now directly owns 617,367 shares of the company’s stock, valued at approximately $32,850,098.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DXP Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management raised its stake in DXP Enterprises by 59.4% in the first quarter. LSV Asset Management now owns 55,484 shares of the industrial products company’s stock valued at $2,981,000 after buying an additional 20,684 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of DXP Enterprises by 125.3% in the 2nd quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock valued at $5,102,000 after purchasing an additional 61,900 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in DXP Enterprises in the 2nd quarter worth approximately $1,741,000. Maryland State Retirement & Pension System acquired a new stake in shares of DXP Enterprises during the first quarter worth $244,000. Finally, Innealta Capital LLC acquired a new stake in shares of DXP Enterprises during the second quarter worth $29,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

DXP Enterprises Stock Down 1.6 %

Shares of DXPE stock traded down $0.81 during mid-day trading on Thursday, hitting $49.08. The stock had a trading volume of 92,484 shares, compared to its average volume of 103,526. The firm has a market capitalization of $774.92 million, a P/E ratio of 13.99 and a beta of 1.59. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.39 and a quick ratio of 1.92. DXP Enterprises has a 12-month low of $28.82 and a 12-month high of $57.38. The firm’s 50-day moving average is $51.72 and its two-hundred day moving average is $50.19.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.02 earnings per share for the quarter. The firm had revenue of $445.56 million during the quarter. DXP Enterprises had a net margin of 3.57% and a return on equity of 17.22%. On average, analysts predict that DXP Enterprises 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).