Vanguard Group Inc. Sells 49,960 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

Vanguard Group Inc. lessened its stake in DXP Enterprises, Inc. (NASDAQ:DXPE) by 5.0% in the fourth quarter, HoldingsChannel reports. The firm owned 952,908 shares of the industrial products company’s stock after selling 49,960 shares during the period. Vanguard Group Inc. owned 0.06% of DXP Enterprises worth $78,729,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of DXP Enterprises by 355.4% in the 3rd quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock valued at $1,267,000 after acquiring an additional 18,514 shares during the last quarter. JPMorgan Chase & Co. increased its stake in DXP Enterprises by 193.3% in the third quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock valued at $5,232,000 after purchasing an additional 64,611 shares in the last quarter. Raymond James Financial Inc. bought a new stake in DXP Enterprises in the fourth quarter valued at approximately $1,037,000. Intech Investment Management LLC acquired a new stake in DXP Enterprises in the fourth quarter worth $447,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of DXP Enterprises during the fourth quarter worth $511,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

Insider Activity

In related news, CFO Kent Nee Hung Yee sold 3,457 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $88.43, for a total value of $305,702.51. Following the completion of the transaction, the chief financial officer now directly owns 68,849 shares of the company’s stock, valued at approximately $6,088,317.07. This trade represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David R. Little acquired 5,999 shares of the stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average price of $82.70 per share, for a total transaction of $496,117.30. Following the completion of the purchase, the chief executive officer now directly owns 1,257,593 shares in the company, valued at $104,002,941.10. The trade was a 0.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 12,785 shares of company stock worth $1,139,818 over the last three months. Corporate insiders own 22.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. StockNews.com cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday. Stephens increased their price target on DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, March 10th.

DXP Enterprises Stock Performance

Shares of DXPE stock opened at $78.12 on Friday. 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, Inc. has a 52 week low of $43.25 and a 52 week high of $107.06. The company’s 50 day moving average price is $87.86 and its two-hundred day moving average price is $78.13. The company has a market capitalization of $1.23 billion, a P/E ratio of 20.13 and a beta of 1.29.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Thursday, March 6th. The industrial products company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.49. The business had revenue of $470.91 million for the quarter, compared to analyst estimates of $447.00 million. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. On average, analysts expect that DXP Enterprises, Inc. will post 4.07 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).