DXP Enterprises (NASDAQ:DXPE) Sets New 1-Year High After Strong Earnings

DXP Enterprises, Inc. (NASDAQ:DXPE)’s share price hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $59.38 and last traded at $59.38, with a volume of 14091 shares traded. The stock had previously closed at $50.92.

The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. DXP Enterprises had a return on equity of 17.22% and a net margin of 3.57%. The firm had revenue of $472.94 million for the quarter. During the same period last year, the business earned $0.93 earnings per share.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 2,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.00, for a total transaction of $122,500.00. Following the transaction, the chief marketing officer now owns 619,367 shares in the company, valued at approximately $30,348,983. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On DXP Enterprises

A number of large investors have recently added to or reduced their stakes in DXPE. LSV Asset Management raised its position in shares of DXP Enterprises by 59.4% during the 1st quarter. LSV Asset Management now owns 55,484 shares of the industrial products company’s stock worth $2,981,000 after purchasing an additional 20,684 shares during the last quarter. Renaissance Technologies LLC increased its stake in DXP Enterprises by 125.3% during the 2nd quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock worth $5,102,000 after buying an additional 61,900 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of DXP Enterprises during the second quarter valued at approximately $1,741,000. Innealta Capital LLC purchased a new position in shares of DXP Enterprises in the second quarter valued at approximately $29,000. Finally, BOKF NA acquired a new stake in shares of DXP Enterprises in the first quarter worth approximately $269,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Price Performance

The company has a 50-day moving average of $51.81 and a 200 day moving average of $50.23. The company has a quick ratio of 1.92, a current ratio of 2.39 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $972.51 million, a PE ratio of 17.40 and a beta of 1.60.

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).