Louisiana State Employees Retirement System Acquires New Holdings in DXP Enterprises, Inc. $DXPE

Louisiana State Employees Retirement System bought a new position in DXP Enterprises, Inc. (NASDAQ:DXPE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,600 shares of the industrial products company’s stock, valued at approximately $782,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of DXP Enterprises by 3,507.7% in the second quarter. EverSource Wealth Advisors LLC now owns 469 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of DXP Enterprises by 164.5% during the 4th quarter. Clearstead Advisors LLC now owns 492 shares of the industrial products company’s stock worth $54,000 after buying an additional 306 shares during the period. GAMMA Investing LLC grew its stake in DXP Enterprises by 35.4% in the 4th quarter. GAMMA Investing LLC now owns 860 shares of the industrial products company’s stock valued at $94,000 after buying an additional 225 shares during the last quarter. State of Wyoming bought a new position in DXP Enterprises in the 4th quarter worth $152,000. Finally, Laurel Wealth Advisors LLC bought a new position in DXP Enterprises in the 4th quarter worth $154,000. Institutional investors own 74.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DXPE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DXP Enterprises in a research report on Friday, May 22nd. Freedom Capital downgraded DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Zacks Research lowered shares of DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, DXP Enterprises has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Insider Activity

In other news, Director Timothy P. Halter sold 6,842 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $141.59, for a total transaction of $968,758.78. Following the completion of the sale, the director owned 30,000 shares of the company’s stock, valued at approximately $4,247,700. This trade represents a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. The trade was a 1.67% decrease in their position. The SEC filing for this sale provides additional information. 22.00% of the stock is currently owned by corporate insiders.

DXP Enterprises Price Performance

DXPE stock traded down $5.89 during trading on Tuesday, hitting $156.69. The company had a trading volume of 28,577 shares, compared to its average volume of 160,837. The company has a fifty day moving average price of $159.06 and a two-hundred day moving average price of $143.31. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. The company has a market cap of $2.43 billion, a P/E ratio of 29.29 and a beta of 0.97. DXP Enterprises, Inc. has a fifty-two week low of $84.04 and a fifty-two week high of $183.91.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.12). DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%.The firm had revenue of $521.66 million during the quarter, compared to the consensus estimate of $531.00 million. Equities research analysts expect that DXP Enterprises, Inc. will post 6.2 earnings per share for the current fiscal year.

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.