DXP Enterprises (NASDAQ:DXPE) Announces Quarterly Earnings Results

DXP Enterprises (NASDAQ:DXPE) released its quarterly earnings data on Thursday. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, Zacks reports. DXP Enterprises had a return on equity of 16.97% and a net margin of 3.57%. The firm had revenue of $407.04 million during the quarter. During the same quarter in the prior year, the company earned $0.50 earnings per share.

DXP Enterprises Trading Up 8.7 %

DXPE traded up $3.49 during midday trading on Friday, reaching $43.59. 81,204 shares of the company were exchanged, compared to its average volume of 56,030. DXP Enterprises has a one year low of $22.06 and a one year high of $43.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.86 and a current ratio of 2.33. The stock has a market capitalization of $705.29 million, a P/E ratio of 12.95 and a beta of 1.67. The stock’s 50-day simple moving average is $33.51 and its 200 day simple moving average is $33.53.

Analysts Set New Price Targets

Separately, StockNews.com upgraded DXP Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 14th.

Insider Activity

In other news, CMO Paz Maestas sold 5,000 shares of DXP Enterprises stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $33.74, for a total transaction of $168,700.00. Following the transaction, the chief marketing officer now owns 631,723 shares in the company, valued at approximately $21,314,334.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in shares of DXP Enterprises by 117.7% during the 3rd quarter. Lazard Asset Management LLC now owns 910 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 492 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of DXP Enterprises by 216.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,197 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 819 shares during the last quarter. Point72 Middle East FZE acquired a new position in shares of DXP Enterprises during the 2nd quarter worth approximately $46,000. Captrust Financial Advisors increased its position in shares of DXP Enterprises by 67.8% during the 1st quarter. Captrust Financial Advisors now owns 1,606 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 649 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of DXP Enterprises by 51.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,616 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 546 shares during the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.

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).