Short Interest in DXP Enterprises, Inc. (NASDAQ:DXPE) Grows By 7.0%

DXP Enterprises, Inc. (NASDAQ:DXPE) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 693,900 shares, an increase of 7.0% from the November 30th total of 648,500 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average trading volume of 156,500 shares, the short-interest ratio is currently 4.4 days.

Insiders Place Their Bets

In other news, insider Christopher T. Gregory sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total transaction of $73,100.00. Following the transaction, the insider now directly owns 29,606 shares of the company’s stock, valued at approximately $2,164,198.60. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in DXP Enterprises by 781.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,242 shares of the industrial products company’s stock worth $332,000 after acquiring an additional 6,420 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 last quarter. Privium Fund Management UK Ltd bought a new stake in DXP Enterprises during the 2nd quarter valued at about $209,000. Acadian Asset Management LLC increased its stake in DXP Enterprises by 5.5% during the 2nd quarter. Acadian Asset Management LLC now owns 101,058 shares of the industrial products company’s stock valued at $4,630,000 after purchasing an additional 5,311 shares in the last quarter. Finally, LSV Asset Management raised its holdings in DXP Enterprises by 63.1% in the second quarter. LSV Asset Management now owns 90,495 shares of the industrial products company’s stock worth $4,148,000 after buying an additional 35,011 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DXPE. Stephens boosted their price objective on shares of DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

DXP Enterprises Trading Up 0.5 %

DXPE opened at $83.00 on Thursday. The stock has a market cap of $1.30 billion, a PE ratio of 21.39 and a beta of 1.70. The business has a 50 day moving average of $70.99 and a 200-day moving average of $57.45. DXP Enterprises has a 52 week low of $30.08 and a 52 week high of $83.50. The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Monday, November 4th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $472.94 million for the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same quarter last year, the firm posted $0.93 EPS. Equities research analysts predict that DXP Enterprises will post 4.07 earnings per share for the current fiscal year.

DXP Enterprises Company Profile

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).