Geode Capital Management LLC Lowers Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

Geode Capital Management LLC trimmed its stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 297,902 shares of the industrial products company's stock after selling 3,912 shares during the period. Geode Capital Management LLC owned approximately 1.90% of DXP Enterprises worth $24,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP purchased a new position in shares of DXP Enterprises in the 4th quarter worth about $67,901,000. Arrowstreet Capital Limited Partnership boosted its stake in DXP Enterprises by 2,589.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company's stock worth $12,339,000 after buying an additional 143,795 shares in the last quarter. JPMorgan Chase & Co. grew its position in DXP Enterprises by 26.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company's stock valued at $10,244,000 after acquiring an additional 25,942 shares during the last quarter. Sei Investments Co. grew its position in DXP Enterprises by 11.3% during the fourth quarter. Sei Investments Co. now owns 89,667 shares of the industrial products company's stock valued at $7,408,000 after acquiring an additional 9,133 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of DXP Enterprises by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 71,501 shares of the industrial products company's stock worth $5,907,000 after acquiring an additional 2,504 shares in the last quarter. 74.82% of the stock is owned by hedge funds and other institutional investors.

DXP Enterprises Trading Up 2.2 %

DXPE stock traded up $1.76 during midday trading on Thursday, hitting $82.66. The company had a trading volume of 12,176 shares, compared to its average volume of 160,379. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 21.38 and a beta of 1.29. DXP Enterprises, Inc. has a 52 week low of $43.25 and a 52 week high of $107.06. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. The stock's 50 day moving average price is $83.97 and its 200 day moving average price is $79.65.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.49. The business had revenue of $470.91 million during the quarter, compared to analysts' expectations of $447.00 million. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. As a group, equities research analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 4,328 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $89.04, for a total value of $385,365.12. Following the completion of the sale, the chief marketing officer now owns 613,039 shares of the company's stock, valued at $54,584,992.56. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David R. Little acquired 5,999 shares of DXP Enterprises stock in a transaction on Wednesday, March 26th. The shares were bought at an average cost of $82.70 per share, for a total transaction of $496,117.30. Following the completion of the transaction, the chief executive officer now owns 1,257,593 shares in the company, valued at approximately $104,002,941.10. This trade represents a 0.48 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 12,785 shares of company stock worth $1,139,818 in the last 90 days. Company insiders own 22.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of DXP Enterprises from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Stephens raised their price objective on DXP Enterprises from $75.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, March 10th.

DXP Enterprises 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).