DXP Enterprises, Inc. (NASDAQ:DXPE) Sees Significant Decline in Short Interest

DXP Enterprises, Inc. (NASDAQ:DXPE) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 661,800 shares, a decline of 8.8% from the August 31st total of 725,800 shares. Approximately 5.2% of the shares of the company are sold short. Based on an average daily volume of 100,400 shares, the days-to-cover ratio is currently 6.6 days.

DXP Enterprises Price Performance

Shares of DXP Enterprises stock traded down $0.18 during trading on Tuesday, reaching $53.18. 65,037 shares of the company’s stock were exchanged, compared to its average volume of 103,600. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.92 and a current ratio of 2.39. DXP Enterprises has a 1-year low of $28.82 and a 1-year high of $57.38. The company has a market cap of $847.05 million, a P/E ratio of 14.71 and a beta of 1.59. The firm’s 50-day moving average price is $51.19 and its 200 day moving average price is $50.47.

DXP Enterprises (NASDAQ:DXPE) last issued its 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, research analysts anticipate that DXP Enterprises will post 3.56 earnings per share for the current year.

Insider Activity at DXP Enterprises

In other news, CMO Paz Maestas sold 2,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $53.21, for a total transaction of $106,420.00. Following the completion of the sale, the chief marketing officer now directly owns 617,367 shares in the company, valued at approximately $32,850,098.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 22.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXP Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in DXPE. Pacer Advisors Inc. acquired a new stake in shares of DXP Enterprises in the second quarter valued at about $32,797,000. Renaissance Technologies LLC boosted its position in shares of DXP Enterprises by 125.3% during the 2nd quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock valued at $5,102,000 after purchasing an additional 61,900 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of DXP Enterprises during the 2nd quarter valued at about $1,741,000. LSV Asset Management boosted its position in shares of DXP Enterprises by 63.1% during the 2nd quarter. LSV Asset Management now owns 90,495 shares of the industrial products company’s stock valued at $4,148,000 after purchasing an additional 35,011 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of DXP Enterprises by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,122,651 shares of the industrial products company’s stock valued at $37,834,000 after purchasing an additional 14,328 shares in the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

DXP Enterprises Company Profile

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).