DXP Enterprises (NASDAQ:DXPE) Stock Price Down 2.2% – Here’s Why

DXP Enterprises, Inc. (NASDAQ:DXPE) was down 2.2% on Wednesday . The company traded as low as $53.38 and last traded at $53.41. Approximately 14,526 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 99,946 shares. The stock had previously closed at $54.62.

DXP Enterprises Price Performance

The firm has a 50-day moving average of $51.64 and a 200-day moving average of $50.54. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.92 and a current ratio of 2.39. The firm has a market capitalization of $835.90 million, a P/E ratio of 14.58 and a beta of 1.59.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter. DXP Enterprises had a return on equity of 17.22% and a net margin of 3.57%. The business had revenue of $445.56 million during the quarter. As a group, analysts predict that DXP Enterprises, Inc. will post 3.56 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Paz Maestas sold 2,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $53.21, for a total value of $106,420.00. Following the completion of the transaction, the chief marketing officer now owns 617,367 shares of the company’s stock, valued at approximately $32,850,098.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 22.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXPE. LSV Asset Management lifted its holdings in shares of DXP Enterprises by 59.4% in the first quarter. LSV Asset Management now owns 55,484 shares of the industrial products company’s stock worth $2,981,000 after buying an additional 20,684 shares in the last quarter. Renaissance Technologies LLC lifted its stake in DXP Enterprises by 125.3% in the 2nd quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock worth $5,102,000 after purchasing an additional 61,900 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of DXP Enterprises during the 2nd quarter valued at about $1,741,000. Maryland State Retirement & Pension System bought a new position in shares of DXP Enterprises during the 1st quarter valued at about $244,000. Finally, Innealta Capital LLC purchased a new position in shares of DXP Enterprises during the second quarter valued at about $29,000. 74.82% of the stock is currently owned by 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).