DXP Enterprises (NASDAQ:DXPE) Reaches New 52-Week High Following Earnings Beat

DXP Enterprises, Inc. (NASDAQ:DXPE)’s stock price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $59.38 and last traded at $59.38, with a volume of 14091 shares. The stock had previously closed at $50.92.

The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. DXP Enterprises had a return on equity of 17.22% and a net margin of 3.57%. The firm had revenue of $472.94 million during the quarter. During the same quarter last year, the firm posted $0.93 earnings per share.

Insider Activity

In other news, CMO Paz Maestas sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.00, for a total transaction of $122,500.00. Following the sale, the chief marketing officer now directly owns 619,367 shares in the company, valued at approximately $30,348,983. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.40% of the stock is currently owned by company insiders.

Institutional Trading of DXP Enterprises

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in DXP Enterprises by 4.6% in the first quarter. BNP Paribas Financial Markets now owns 35,445 shares of the industrial products company’s stock valued at $1,904,000 after acquiring an additional 1,553 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of DXP Enterprises by 80.1% in the 1st quarter. GSA Capital Partners LLP now owns 21,626 shares of the industrial products company’s stock valued at $1,162,000 after purchasing an additional 9,615 shares during the last quarter. LSV Asset Management grew its position in shares of DXP Enterprises by 59.4% during the 1st quarter. LSV Asset Management now owns 55,484 shares of the industrial products company’s stock worth $2,981,000 after buying an additional 20,684 shares during the period. Quantbot Technologies LP raised its stake in shares of DXP Enterprises by 110.5% during the first quarter. Quantbot Technologies LP now owns 5,222 shares of the industrial products company’s stock worth $281,000 after buying an additional 2,741 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in DXP Enterprises in the first quarter valued at approximately $293,000. 74.82% of the stock is owned by institutional investors.

DXP Enterprises Trading Up 13.8 %

The company has a quick ratio of 1.92, a current ratio of 2.39 and a debt-to-equity ratio of 1.35. The company has a fifty day simple moving average of $51.63 and a two-hundred day simple moving average of $50.15. The stock has a market capitalization of $915.19 million, a P/E ratio of 16.76 and a beta of 1.60.

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).