King Luther Capital Management Corp Sells 50,000 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

King Luther Capital Management Corp cut its stake in DXP Enterprises, Inc. (NASDAQ:DXPE) by 22.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,963 shares of the industrial products company’s stock after selling 50,000 shares during the quarter. King Luther Capital Management Corp owned 1.07% of DXP Enterprises worth $9,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in DXP Enterprises in the 2nd quarter worth approximately $32,797,000. Renaissance Technologies LLC increased its position in DXP Enterprises by 125.3% during the second quarter. Renaissance Technologies LLC now owns 111,300 shares of the industrial products company’s stock valued at $5,102,000 after acquiring an additional 61,900 shares during the last quarter. Acadian Asset Management LLC boosted its position in DXP Enterprises by 5.5% in the second quarter. Acadian Asset Management LLC now owns 101,058 shares of the industrial products company’s stock worth $4,630,000 after purchasing an additional 5,311 shares during the last quarter. LSV Asset Management grew its stake 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 during the period. Finally, Sei Investments Co. grew its stake in shares of DXP Enterprises by 7.1% during the 2nd quarter. Sei Investments Co. now owns 83,757 shares of the industrial products company’s stock valued at $3,839,000 after purchasing an additional 5,543 shares during the period. 74.82% of the stock is currently owned by institutional investors.

DXP Enterprises Stock Performance

NASDAQ DXPE opened at $69.08 on Friday. The company has a market cap of $1.08 billion, a P/E ratio of 17.55 and a beta of 1.60. The business’s 50 day moving average price is $55.67 and its 200-day moving average price is $51.66. DXP Enterprises, Inc. has a fifty-two week low of $28.82 and a fifty-two week high of $73.75. 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 (NASDAQ:DXPE) last issued its quarterly earnings results on Monday, November 4th. 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 18.74% and a net margin of 3.75%. The firm had revenue of $472.94 million for the quarter. During the same quarter in the previous year, the company posted $0.93 earnings per share. Sell-side analysts predict that DXP Enterprises, Inc. will post 3.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stephens lifted their price target on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th.

Insider Activity at DXP Enterprises

In other news, CMO Paz Maestas sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $53.21, for a total value of $106,420.00. Following the completion of the sale, the chief marketing officer now owns 617,367 shares of the company’s stock, valued at approximately $32,850,098.07. This represents a 0.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

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).