DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High Following Earnings Beat

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $59.38 and last traded at $59.38, with a volume of 14091 shares changing hands. The stock had previously closed at $50.92.

The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. DXP Enterprises had a return on equity of 17.22% and a net margin of 3.57%. The business had revenue of $472.94 million for the quarter. During the same quarter in the previous year, the company posted $0.93 EPS.

Insider Buying and Selling

In other DXP Enterprises news, CMO Paz Maestas sold 2,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.00, for a total value of $122,500.00. Following the transaction, the chief marketing officer now owns 619,367 shares in the company, valued at approximately $30,348,983. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DXPE. LSV Asset Management raised its stake 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 valued at $2,981,000 after buying an additional 20,684 shares during the period. Renaissance Technologies LLC grew its position in DXP Enterprises by 125.3% in the second quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock worth $5,102,000 after acquiring 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. Innealta Capital LLC bought a new stake in DXP Enterprises in the 2nd quarter worth approximately $29,000. Finally, BOKF NA purchased a new stake in DXP Enterprises in the first quarter worth approximately $269,000. 74.82% of the stock is owned by institutional investors.

DXP Enterprises Price Performance

The firm has a market capitalization of $915.19 million, a P/E ratio of 16.76 and a beta of 1.60. The business’s 50-day simple moving average is $51.63 and its 200 day simple moving average is $50.15. The company has a quick ratio of 1.92, a current ratio of 2.39 and a debt-to-equity ratio of 1.35.

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).