Timothy P. Halter Sells 5,000 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) Stock

DXP Enterprises, Inc. (NASDAQ:DXPE) Director Timothy P. Halter sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $89.75, for a total value of $448,750.00. Following the completion of the sale, the director now owns 45,925 shares in the company, valued at $4,121,768.75. This represents a 9.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

DXP Enterprises Stock Performance

DXPE stock traded down $2.69 during trading hours on Wednesday, hitting $85.71. 93,236 shares of the stock were exchanged, compared to its average volume of 152,991. DXP Enterprises, Inc. has a 12 month low of $43.25 and a 12 month high of $107.06. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $1.35 billion, a P/E ratio of 22.09 and a beta of 1.66. The company has a 50-day simple moving average of $94.21 and a two-hundred day simple moving average of $75.70.

DXP Enterprises (NASDAQ:DXPE) last released 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 for the quarter, compared to analyst estimates of $447.00 million. On average, analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com lowered DXP Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday. Stephens upped their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, March 10th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in DXP Enterprises by 0.3% during the third quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock worth $3,682,000 after buying an additional 178 shares in the last quarter. CastleKnight Management LP raised its holdings in DXP Enterprises by 0.3% in the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company’s stock valued at $9,691,000 after acquiring an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of DXP Enterprises by 4.4% during the 4th quarter. Sterling Capital Management LLC now owns 7,656 shares of the industrial products company’s stock valued at $633,000 after acquiring an additional 326 shares during the period. Global Retirement Partners LLC grew its holdings in shares of DXP Enterprises by 2,220.0% during the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 333 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of DXP Enterprises by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 11,220 shares of the industrial products company’s stock worth $927,000 after purchasing an additional 502 shares during the period. 74.82% of the stock is owned by institutional investors.

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).