Summit Global Investments Makes New $675,000 Investment in DXP Enterprises, Inc. (NASDAQ:DXPE)

Summit Global Investments acquired a new stake in DXP Enterprises, Inc. (NASDAQ:DXPE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,167 shares of the industrial products company’s stock, valued at approximately $675,000. Summit Global Investments owned 0.05% of DXP Enterprises as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of DXP Enterprises by 0.3% in the third quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock valued at $3,682,000 after buying an additional 178 shares during the period. Global Retirement Partners LLC raised its holdings in DXP Enterprises by 2,220.0% in the 4th quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 333 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of DXP Enterprises by 3,150.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 504 shares during the period. Jane Street Group LLC increased its position in shares of DXP Enterprises by 9.6% in the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 517 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of DXP Enterprises in the third quarter worth $41,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

Insider Activity at DXP Enterprises

In related news, CMO Paz Maestas sold 4,328 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $89.04, for a total transaction of $385,365.12. Following the sale, the chief marketing officer now owns 613,039 shares in the company, valued at $54,584,992.56. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DXPE. Stephens increased their price objective on shares of DXP Enterprises from $75.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. StockNews.com upgraded shares of DXP Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th.

DXP Enterprises Trading Down 0.8 %

Shares of DXPE opened at $87.00 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. DXP Enterprises, Inc. has a 52-week low of $43.25 and a 52-week high of $107.06. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 22.42 and a beta of 1.66. The business’s fifty day moving average is $94.40 and its 200-day moving average is $75.15.

DXP Enterprises (NASDAQ:DXPE) last released its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $470.91 million for the quarter, compared to analysts’ expectations of $447.00 million. Equities analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

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).