Diversify Wealth Management LLC Makes New $1.23 Million Investment in DXP Enterprises, Inc. $DXPE

Diversify Wealth Management LLC acquired a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,774 shares of the industrial products company’s stock, valued at approximately $1,226,000. Diversify Wealth Management LLC owned 0.06% of DXP Enterprises at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Wasatch Advisors LP boosted its holdings in shares of DXP Enterprises by 480.2% during the 4th quarter. Wasatch Advisors LP now owns 754,706 shares of the industrial products company’s stock worth $82,859,000 after buying an additional 624,638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in DXP Enterprises by 12,369,100.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 371,076 shares of the industrial products company’s stock worth $40,785,000 after acquiring an additional 371,073 shares in the last quarter. Wellington Management Group LLP boosted its stake in DXP Enterprises by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,219,299 shares of the industrial products company’s stock worth $133,867,000 after acquiring an additional 137,577 shares in the last quarter. Millennium Management LLC grew its holdings in DXP Enterprises by 661.5% in the first quarter. Millennium Management LLC now owns 128,956 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 112,021 shares during the period. Finally, Invesco Ltd. grew its holdings in DXP Enterprises by 41.6% in the third quarter. Invesco Ltd. now owns 250,790 shares of the industrial products company’s stock worth $29,862,000 after purchasing an additional 73,653 shares during the period. 74.82% of the stock is currently owned by institutional investors.

DXP Enterprises Trading Up 1.2%

NASDAQ:DXPE opened at $165.54 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.98 and a quick ratio of 2.56. DXP Enterprises, Inc. has a one year low of $84.04 and a one year high of $183.91. The company has a market cap of $2.57 billion, a PE ratio of 30.94 and a beta of 0.97. The firm has a 50-day moving average of $157.57 and a 200-day moving average of $145.71.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). The company had revenue of $521.66 million for the quarter, compared to the consensus estimate of $531.00 million. DXP Enterprises had a return on equity of 18.16% and a net margin of 4.27%. As a group, equities research analysts expect that DXP Enterprises, Inc. will post 6.2 EPS for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the sale, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at approximately $97,021,364.94. This represents a 1.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy P. Halter sold 6,842 shares of DXP Enterprises stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the transaction, the director directly owned 30,000 shares in the company, valued at $4,247,700. This represents a 18.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 22.00% of the company’s stock.

Analyst Ratings Changes

DXPE has been the topic of several research reports. Wall Street Zen lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DXP Enterprises in a research note on Friday, May 22nd. Finally, Freedom Capital lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $154.00.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.