Summit Global Investments Takes Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

Summit Global Investments acquired a new stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,167 shares of the industrial products company's stock, valued at approximately $675,000. Summit Global Investments owned approximately 0.05% of DXP Enterprises as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DXPE. Global Retirement Partners LLC lifted its position in DXP Enterprises by 2,220.0% during the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 333 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of DXP Enterprises during the 3rd quarter valued at about $41,000. Smartleaf Asset Management LLC grew its stake in shares of DXP Enterprises by 3,150.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 504 shares during the period. Longboard Asset Management LP bought a new stake in DXP Enterprises during the 4th quarter worth approximately $216,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in DXP Enterprises during the fourth quarter valued at approximately $224,000. Hedge funds and other institutional investors own 74.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DXPE. Stephens boosted their price target on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. StockNews.com downgraded DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Tuesday.

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DXP Enterprises Stock Down 3.2 %

Shares of DXPE stock traded down $2.78 during mid-day trading on Thursday, hitting $82.93. The stock had a trading volume of 82,747 shares, compared to its average volume of 152,930. DXP Enterprises, Inc. has a 12-month low of $43.25 and a 12-month high of $107.06. The firm's 50-day moving average is $93.95 and its two-hundred day moving average is $75.77. The firm has a market capitalization of $1.30 billion, a P/E ratio of 21.37 and a beta of 1.66. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78.

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

Insider Buying and Selling

In related news, CMO Paz Maestas sold 4,328 shares of DXP Enterprises 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 completion of the transaction, the chief marketing officer now owns 613,039 shares in the company, valued at $54,584,992.56. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $88.43, for a total value of $305,702.51. Following the transaction, the chief financial officer now directly owns 68,849 shares of the company's stock, valued at approximately $6,088,317.07. The trade was a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,785 shares of company stock valued at $1,139,818 over the last 90 days. Insiders own 22.40% of the company's stock.

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).