Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of DXP Enterprises Inc. (NASDAQ:DXPE) by 40.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,665 shares of the company’s stock after buying an additional 5,965 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.14% of DXP Enterprises worth $309,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. GMT Capital Corp purchased a new stake in DXP Enterprises during the second quarter valued at $16,813,000. Stephens Inc. AR increased its stake in DXP Enterprises by 0.8% in the second quarter. Stephens Inc. AR now owns 62,454 shares of the company’s stock valued at $932,000 after buying an additional 500 shares during the last quarter. GSA Capital Partners LLP increased its stake in DXP Enterprises by 43.6% in the second quarter. GSA Capital Partners LLP now owns 34,028 shares of the company’s stock valued at $508,000 after buying an additional 10,325 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in DXP Enterprises by 6.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 11,751 shares of the company’s stock valued at $175,000 after buying an additional 741 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in DXP Enterprises by 24.1% in the second quarter. California Public Employees Retirement System now owns 80,400 shares of the company’s stock valued at $1,200,000 after buying an additional 15,600 shares during the last quarter. 81.25% of the stock is owned by institutional investors and hedge funds.
Shares of DXP Enterprises Inc. (NASDAQ:DXPE) traded up 0.12% during midday trading on Wednesday, hitting $25.38. The company had a trading volume of 53,076 shares. DXP Enterprises Inc. has a 12 month low of $12.67 and a 12 month high of $34.49. The stock’s 50-day moving average price is $27.43 and its 200-day moving average price is $19.57. The company’s market cap is $368.09 million.
DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.39. The firm had revenue of $256.22 million for the quarter, compared to analyst estimates of $250.65 million. DXP Enterprises had a positive return on equity of 6.74% and a negative net margin of 5.07%. DXP Enterprises’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. On average, equities research analysts forecast that DXP Enterprises Inc. will post $0.26 EPS for the current year.
Several research firms have recently weighed in on DXPE. Stephens set a $45.00 price objective on DXP Enterprises and gave the company a “buy” rating in a report on Sunday, August 21st. Zacks Investment Research raised DXP Enterprises from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a report on Friday, August 12th.
In other DXP Enterprises news, SVP John Jay Jeffery sold 1,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $29.80, for a total transaction of $29,800.00. Following the sale, the senior vice president now directly owns 15,221 shares in the company, valued at approximately $453,585.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gmt Capital Corp acquired 172,746 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average price of $15.96 per share, for a total transaction of $2,757,026.16. Following the completion of the acquisition, the insider now directly owns 1,595,545 shares in the company, valued at $25,464,898.20. The disclosure for this purchase can be found here. Corporate insiders own 11.30% of the company’s stock.
About DXP Enterprises
DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.
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