8,167 Shares in DXP Enterprises, Inc. (NASDAQ:DXPE) Bought by Summit Global Investments

Summit Global Investments bought a new position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 8,167 shares of the industrial products company’s stock, valued at approximately $675,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC raised its position in shares of DXP Enterprises by 2,220.0% during the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 333 shares during the last quarter. Quantbot Technologies LP bought a new position in DXP Enterprises during the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC raised its holdings in DXP Enterprises by 3,150.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 504 shares during the last quarter. Longboard Asset Management LP acquired a new position in shares of DXP Enterprises in the 4th quarter worth approximately $216,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of DXP Enterprises in the 4th quarter valued at $224,000. 74.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CMO Paz Maestas sold 4,328 shares of DXP Enterprises stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $89.04, for a total value of $385,365.12. Following the completion of the sale, the chief marketing officer now owns 613,039 shares of the company’s stock, valued at approximately $54,584,992.56. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Wall Street Analyst Weigh In

DXPE has been the topic of several recent analyst reports. StockNews.com upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Stephens boosted their price objective on DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, March 10th.

DXP Enterprises Price Performance

DXP Enterprises stock opened at $87.00 on Monday. The stock’s 50 day moving average price is $94.40 and its two-hundred day moving average price is $75.15. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 22.42 and a beta of 1.66. 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.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results 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. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The business had revenue of $470.91 million during the quarter, compared to analysts’ expectations of $447.00 million. On average, equities analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

About DXP Enterprises

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).