DXP Enterprises, Inc. (NASDAQ:DXPE) Short Interest Up 7.0% in December

DXP Enterprises, Inc. (NASDAQ:DXPE) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 693,900 shares, a growth of 7.0% from the November 30th total of 648,500 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily volume of 156,500 shares, the days-to-cover ratio is currently 4.4 days.

Insider Buying and Selling at DXP Enterprises

In other news, insider Christopher T. Gregory sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total value of $73,100.00. Following the transaction, the insider now directly owns 29,606 shares in the company, valued at approximately $2,164,198.60. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DXPE. Principal Financial Group Inc. grew its position in DXP Enterprises by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock worth $3,682,000 after purchasing an additional 178 shares during the last quarter. Quest Partners LLC grew its stake in DXP Enterprises by 24.8% in the 2nd quarter. Quest Partners LLC now owns 2,109 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 419 shares during the last quarter. Jane Street Group LLC grew its stake in DXP Enterprises by 9.6% in the 3rd quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 517 shares during the last quarter. Quantbot Technologies LP acquired a new position in DXP Enterprises during the third quarter worth about $41,000. Finally, Federated Hermes Inc. lifted its holdings in shares of DXP Enterprises by 8.8% in the second quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 888 shares in the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DXPE shares. StockNews.com cut DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Stephens raised their price target on shares of DXP Enterprises from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th.

DXP Enterprises Stock Up 1.8 %

Shares of DXPE stock traded up $1.51 during trading hours on Thursday, reaching $84.13. 19,485 shares of the stock were exchanged, compared to its average volume of 119,067. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. DXP Enterprises has a 12-month low of $30.08 and a 12-month high of $84.14. The firm has a market capitalization of $1.32 billion, a P/E ratio of 21.68 and a beta of 1.70. The business’s fifty day moving average is $70.99 and its two-hundred day moving average is $57.45.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $472.94 million during the quarter. During the same period last year, the company earned $0.93 earnings per share. As a group, research analysts expect that DXP Enterprises will post 4.07 EPS for the current fiscal year.

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).