ClariVest Asset Management LLC acquired a new stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 27,038 shares of the industrial products company’s stock, valued at approximately $932,000. ClariVest Asset Management LLC owned 0.16% of DXP Enterprises at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Algert Global LLC acquired a new stake in DXP Enterprises during the second quarter valued at about $290,000. Texas Permanent School Fund raised its stake in DXP Enterprises by 1.3% in the second quarter. Texas Permanent School Fund now owns 11,318 shares of the industrial products company’s stock valued at $390,000 after buying an additional 147 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in DXP Enterprises by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock valued at $126,000 after buying an additional 110 shares in the last quarter. Strs Ohio raised its stake in DXP Enterprises by 63.4% in the second quarter. Strs Ohio now owns 21,400 shares of the industrial products company’s stock valued at $738,000 after buying an additional 8,300 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in DXP Enterprises by 108.4% in the second quarter. Acadian Asset Management LLC now owns 57,050 shares of the industrial products company’s stock valued at $1,969,000 after buying an additional 29,679 shares in the last quarter. 73.84% of the stock is owned by institutional investors.
Shares of DXP Enterprises, Inc. (NASDAQ DXPE) opened at 25.52 on Friday. The company’s 50-day moving average price is $31.01 and its 200 day moving average price is $34.56. The company has a market cap of $444.07 million, a price-to-earnings ratio of 29.67 and a beta of 2.63. DXP Enterprises, Inc. has a 1-year low of $19.61 and a 1-year high of $42.00.
DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $250.69 million during the quarter, compared to analyst estimates of $246.15 million. DXP Enterprises had a return on equity of 6.15% and a net margin of 1.58%. DXP Enterprises’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. On average, analysts predict that DXP Enterprises, Inc. will post $0.78 earnings per share for the current fiscal year.
Several research firms recently issued reports on DXPE. BidaskClub lowered DXP Enterprises from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 30th. Zacks Investment Research raised DXP Enterprises from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, July 27th. KeyCorp reissued a “sector weight” rating on shares of DXP Enterprises in a research note on Friday, May 26th. Finally, Sidoti reissued a “buy” rating and set a $49.00 price objective (up previously from $47.00) on shares of DXP Enterprises in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. DXP Enterprises currently has a consensus rating of “Hold” and a consensus target price of $39.50.
In other news, insider Kent Nee Hung Yee sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $37.63, for a total transaction of $150,520.00. Following the completion of the transaction, the insider now owns 40,278 shares in the company, valued at $1,515,661.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company 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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