DXP Enterprises (NASDAQ:DXPE) Shares Pass Above 200-Day Moving Average of $37.44

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $37.44 and traded as high as $52.42. DXP Enterprises shares last traded at $51.91, with a volume of 60,527 shares trading hands.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded DXP Enterprises from a “c+” rating to a “b-” rating in a report on Thursday, March 14th.

DXP Enterprises Price Performance

The firm has a market cap of $839.90 million, a price-to-earnings ratio of 13.38 and a beta of 1.72. The company has a current ratio of 2.89, a quick ratio of 2.43 and a debt-to-equity ratio of 1.37. The stock’s fifty day moving average price is $46.60 and its 200-day moving average price is $37.44.

DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Thursday, March 7th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter. DXP Enterprises had a return on equity of 19.30% and a net margin of 4.10%. The company had revenue of $407.04 million during the quarter. During the same period last year, the business earned $0.50 EPS. As a group, equities research analysts forecast that DXP Enterprises, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Activity at DXP Enterprises

In other DXP Enterprises news, CMO Paz Maestas sold 10,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $49.14, for a total transaction of $491,400.00. Following the completion of the transaction, the chief marketing officer now owns 621,723 shares of the company’s stock, valued at $30,551,468.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.10% of the stock is owned by insiders.

Institutional Trading of DXP Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of DXP Enterprises by 9.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 510,443 shares of the industrial products company’s stock valued at $17,835,000 after buying an additional 43,598 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in DXP Enterprises during the third quarter worth about $297,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of DXP Enterprises during the third quarter worth about $32,000. Acadian Asset Management LLC boosted its stake in shares of DXP Enterprises by 10.0% in the third quarter. Acadian Asset Management LLC now owns 171,641 shares of the industrial products company’s stock valued at $5,995,000 after purchasing an additional 15,574 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of DXP Enterprises by 161.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,660 shares of the industrial products company’s stock valued at $1,281,000 after purchasing an additional 22,612 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

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).