Oliver Luxxe Assets LLC Makes New $2.96 Million Investment in DXP Enterprises, Inc. $DXPE

Oliver Luxxe Assets LLC bought a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,919 shares of the industrial products company’s stock, valued at approximately $2,955,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of DXP Enterprises by 29.4% in the first quarter. Royal Bank of Canada now owns 5,071 shares of the industrial products company’s stock valued at $417,000 after buying an additional 1,153 shares in the last quarter. Millennium Management LLC lifted its stake in DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock valued at $10,608,000 after acquiring an additional 112,021 shares during the last quarter. Jane Street Group LLC lifted its stake in DXP Enterprises by 433.8% in the first quarter. Jane Street Group LLC now owns 58,954 shares of the industrial products company’s stock valued at $4,850,000 after acquiring an additional 47,909 shares during the last quarter. Geode Capital Management LLC grew its position in shares of DXP Enterprises by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 329,543 shares of the industrial products company’s stock valued at $28,888,000 after acquiring an additional 9,216 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its position in shares of DXP Enterprises by 11.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,904 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 309 shares during the period. 74.82% of the stock is currently owned by institutional investors and hedge funds.

DXP Enterprises Stock Performance

Shares of NASDAQ:DXPE opened at $128.40 on Friday. DXP Enterprises, Inc. has a 12-month low of $67.68 and a 12-month high of $171.70. The company’s 50 day moving average price is $136.69 and its two-hundred day moving average price is $119.98. The firm has a market cap of $1.99 billion, a PE ratio of 23.87 and a beta of 0.96. The company has a quick ratio of 2.94, a current ratio of 3.34 and a debt-to-equity ratio of 1.64.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.48. The business had revenue of $527.39 million during the quarter, compared to the consensus estimate of $499.00 million. DXP Enterprises had a return on equity of 18.83% and a net margin of 4.40%. Equities research analysts predict that DXP Enterprises, Inc. will post 4.07 earnings per share for the current year.

Insider Buying and Selling at DXP Enterprises

In other news, Director Joseph R. Mannes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $137.95, for a total value of $206,925.00. Following the sale, the director directly owned 13,964 shares in the company, valued at approximately $1,926,333.80. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.70% of the company’s stock.

Analyst Ratings Changes

DXPE has been the topic of a number of recent analyst reports. Loop Capital set a $154.00 price target on DXP Enterprises in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Finally, Zacks Research upgraded DXP Enterprises from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, DXP Enterprises presently has a consensus rating of “Buy” and an average price target of $154.00.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.