DXP Enterprises (NASDAQ:DXPE) Reaches New 1-Year High on Earnings Beat

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price reached a new 52-week high during 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 trading hands. The stock had previously closed at $50.92.

The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The business had revenue of $472.94 million during the quarter. DXP Enterprises had a return on equity of 17.22% and a net margin of 3.57%. During the same period in the previous year, the company posted $0.93 earnings per share.

Insider Buying and Selling

In related news, CMO Paz Maestas sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $53.21, for a total value of $106,420.00. Following the completion of the sale, the chief marketing officer now directly owns 617,367 shares in the company, valued at approximately $32,850,098.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 22.40% of the stock is owned by insiders.

Institutional Trading of DXP Enterprises

A number of hedge funds have recently made changes to their positions in DXPE. Innealta Capital LLC acquired a new position in DXP Enterprises during the 2nd quarter worth about $29,000. Quest Partners LLC lifted its stake in shares of DXP Enterprises by 24.8% in the second quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 419 shares during the period. SG Americas Securities LLC bought a new stake in DXP Enterprises in the third quarter valued at approximately $197,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DXP Enterprises by 39.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,113 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 1,174 shares during the period. Finally, Privium Fund Management UK Ltd bought a new position in DXP Enterprises during the 2nd quarter worth approximately $209,000. 74.82% of the stock is owned by institutional investors and hedge funds.

DXP Enterprises Trading Up 6.8 %

The stock has a market cap of $1.04 billion, a P/E ratio of 18.58 and a beta of 1.60. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.92 and a current ratio of 2.39. The firm’s fifty day simple moving average is $52.07 and its 200-day simple moving average is $50.34.

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).