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

DXP Enterprises, Inc. (NASDAQ:DXPE - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 454,200 shares, a decline of 14.7% from the March 15th total of 532,500 shares. Based on an average trading volume of 231,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.6% of the company's stock are sold short.

DXP Enterprises Stock Performance

Shares of NASDAQ DXPE traded down $0.53 during trading hours on Friday, reaching $84.47. The stock had a trading volume of 11,321 shares, compared to its average volume of 160,501. The firm has a 50-day moving average of $83.62 and a 200-day moving average of $79.87. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 21.75 and a beta of 1.29. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. DXP Enterprises has a fifty-two week low of $43.25 and a fifty-two week high of $107.06.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $447.00 million. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. Equities research analysts predict that DXP Enterprises will post 4.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DXPE shares. StockNews.com upgraded shares of DXP Enterprises from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Stephens boosted their price target 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.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in shares of DXP Enterprises during the fourth quarter worth about $67,901,000. Arrowstreet Capital Limited Partnership lifted its position in DXP Enterprises by 2,589.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company's stock worth $12,339,000 after acquiring an additional 143,795 shares during the period. JPMorgan Chase & Co. grew its stake in shares of DXP Enterprises by 193.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company's stock valued at $5,232,000 after purchasing an additional 64,611 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of DXP Enterprises by 9,327.6% in the first quarter. GAMMA Investing LLC now owns 41,953 shares of the industrial products company's stock valued at $3,451,000 after purchasing an additional 41,508 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of DXP Enterprises by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company's stock worth $59,513,000 after purchasing an additional 38,900 shares during the last quarter. 74.82% of the stock is owned by hedge funds and other 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).