DXP Enterprises, Inc. (NASDAQ:DXPE) Sees Large Drop in Short Interest

DXP Enterprises, Inc. (NASDAQ:DXPE) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 661,800 shares, a drop of 8.8% from the August 31st total of 725,800 shares. Based on an average daily volume of 100,400 shares, the short-interest ratio is currently 6.6 days. Approximately 5.2% of the company’s stock are sold short.

DXP Enterprises Stock Performance

NASDAQ:DXPE traded up $0.45 during mid-day trading on Tuesday, hitting $53.81. 25,342 shares of the company’s stock traded hands, compared to its average volume of 103,390. DXP Enterprises has a 12 month low of $28.82 and a 12 month high of $57.38. The firm has a market capitalization of $857.09 million, a price-to-earnings ratio of 14.71 and a beta of 1.59. The firm has a 50 day moving average of $51.19 and a two-hundred day moving average of $50.47. The company has a current ratio of 2.39, a quick ratio of 1.92 and a debt-to-equity ratio of 1.35.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Thursday, August 8th. The industrial products company reported $1.02 earnings per share for the quarter. The business had revenue of $445.56 million for the quarter. DXP Enterprises had a return on equity of 17.22% and a net margin of 3.57%. On average, equities analysts forecast that DXP Enterprises will post 3.56 earnings per share for the current fiscal year.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.00, for a total value of $122,500.00. Following the completion of the sale, the chief marketing officer now directly owns 619,367 shares in the company, valued at approximately $30,348,983. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 22.10% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Several large investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in shares of DXP Enterprises in the second quarter valued at approximately $29,000. Quest Partners LLC increased its stake in shares of DXP Enterprises by 24.8% in the 2nd quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock valued at $97,000 after buying an additional 419 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of DXP Enterprises by 39.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 1,174 shares during the last quarter. Privium Fund Management UK Ltd acquired a new position in shares of DXP Enterprises during the second quarter valued at $209,000. Finally, Maryland State Retirement & Pension System bought a new position in DXP Enterprises in the first quarter valued at about $244,000. 74.82% of the stock is currently owned by institutional investors.

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).