DXP Enterprises (NASDAQ:DXPE) Shares Gap Down to $55.50

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) gapped down before the market opened on Thursday . The stock had previously closed at $55.50, but opened at $52.99. DXP Enterprises shares last traded at $46.05, with a volume of 23,808 shares.

Wall Street Analysts Forecast Growth

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

DXP Enterprises Stock Performance

The firm has a market cap of $783.02 million, a price-to-earnings ratio of 12.67 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 50 day moving average is $49.94 and its 200 day moving average is $38.69.

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

Insider Transactions at DXP Enterprises

In related news, CMO Paz Maestas sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $49.14, for a total value of $491,400.00. Following the transaction, the chief marketing officer now directly owns 621,723 shares in the company, valued at $30,551,468.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.10% of the company’s stock.

Institutional Investors Weigh In On DXP Enterprises

A number of large investors have recently added to or reduced their stakes in DXPE. DekaBank Deutsche Girozentrale acquired a new position in shares of DXP Enterprises in the 3rd quarter valued at approximately $32,000. Quest Partners LLC acquired a new position in shares of DXP Enterprises during the 4th quarter worth $80,000. Allspring Global Investments Holdings LLC lifted its position in shares of DXP Enterprises by 36.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,380 shares of the industrial products company’s stock worth $215,000 after buying an additional 1,701 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in DXP Enterprises in the fourth quarter valued at about $222,000. Finally, Maryland State Retirement & Pension System bought a new position in DXP Enterprises in the first quarter valued at about $244,000. Institutional investors and hedge funds 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).