DXP Enterprises, Inc. (NASDAQ:DXPE) Sees Large Increase in Short Interest

DXP Enterprises, Inc. (NASDAQ:DXPEGet Free Report) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 629,900 shares, a growth of 9.5% from the February 29th total of 575,100 shares. Based on an average daily volume of 73,200 shares, the days-to-cover ratio is currently 8.6 days. Currently, 4.8% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DXPE shares. TheStreet raised DXP Enterprises from a “c+” rating to a “b-” rating in a research report on Thursday, March 14th. StockNews.com raised DXP Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 14th.

Read Our Latest Stock Analysis on DXPE

Insider Buying and Selling

In related news, CMO Paz Maestas sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $49.14, for a total value of $491,400.00. Following the sale, the chief marketing officer now directly owns 621,723 shares of the company’s stock, valued at $30,551,468.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.10% of the stock is owned by insiders.

Institutional Trading of DXP Enterprises

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of DXP Enterprises in the 3rd quarter worth approximately $32,000. Lazard Asset Management LLC raised its holdings in DXP Enterprises by 117.7% in the 3rd quarter. Lazard Asset Management LLC now owns 910 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 492 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in DXP Enterprises by 216.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,197 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 819 shares during the last quarter. Point72 Middle East FZE purchased a new position in DXP Enterprises in the 2nd quarter worth approximately $46,000. Finally, Captrust Financial Advisors raised its holdings in DXP Enterprises by 67.8% in the 1st quarter. Captrust Financial Advisors now owns 1,606 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 649 shares during the last quarter. 74.82% of the stock is owned by institutional investors.

DXP Enterprises Stock Down 1.2 %

Shares of DXPE traded down $0.67 during mid-day trading on Tuesday, reaching $53.04. The company had a trading volume of 81,103 shares, compared to its average volume of 78,659. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.43 and a current ratio of 2.89. The firm has a 50-day moving average price of $40.14 and a 200 day moving average price of $35.39. DXP Enterprises has a 52 week low of $22.06 and a 52 week high of $54.73. The company has a market capitalization of $858.19 million, a price-to-earnings ratio of 13.67 and a beta of 1.72.

DXP Enterprises (NASDAQ:DXPEGet Free Report) last issued its quarterly earnings results on Thursday, March 7th. The industrial products company reported $1.12 EPS for the quarter. DXP Enterprises had a return on equity of 19.30% and a net margin of 4.10%. The firm had revenue of $407.04 million for the quarter. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, sell-side analysts forecast that DXP Enterprises will post 3.16 EPS for the current year.

DXP Enterprises Company Profile

(Get Free Report)

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).

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