Bank of New York Mellon Corp Lowers Stake in DXP Enterprises, Inc. (NASDAQ:DXPE)

Bank of New York Mellon Corp lowered its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,601 shares of the industrial products company's stock after selling 14,675 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of DXP Enterprises worth $7,899,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DXPE. Principal Financial Group Inc. boosted its holdings in shares of DXP Enterprises by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company's stock valued at $3,682,000 after buying an additional 178 shares in the last quarter. Global Retirement Partners LLC boosted its stake in DXP Enterprises by 2,220.0% in the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 333 shares in the last quarter. Jane Street Group LLC grew its holdings in DXP Enterprises by 9.6% in the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company's stock worth $316,000 after purchasing an additional 517 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of DXP Enterprises during the third quarter worth $41,000. Finally, Longboard Asset Management LP purchased a new stake in shares of DXP Enterprises during the 4th quarter valued at $216,000. Hedge funds and other institutional investors own 74.82% of the company's stock.

Wall Street Analyst Weigh In

DXPE has been the topic of several recent analyst reports. StockNews.com raised DXP Enterprises from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Stephens increased their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, March 10th.

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DXP Enterprises Stock Performance

Shares of NASDAQ DXPE traded up $3.34 during mid-day trading on Wednesday, hitting $88.48. The stock had a trading volume of 63,113 shares, compared to its average volume of 151,543. The company has a 50 day moving average of $94.33 and a two-hundred day moving average of $74.44. DXP Enterprises, Inc. has a twelve month low of $43.25 and a twelve month high of $107.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The firm has a market cap of $1.39 billion, a PE ratio of 22.83 and a beta of 1.66.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its earnings results on Thursday, March 6th. The industrial products company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $470.91 million during the quarter, compared to the consensus estimate of $447.00 million. Research analysts predict that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

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).