DXP Enterprises (DXPE) Posts Quarterly Earnings Results

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DXP Enterprises (NASDAQ:DXPE) issued its earnings results on Monday. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09, MarketWatch Earnings reports. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $301.81 million. DXP Enterprises had a net margin of 2.31% and a return on equity of 8.83%. The business’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS.

Shares of NASDAQ DXPE traded down $0.06 during trading on Wednesday, hitting $42.39. 10,674 shares of the company were exchanged, compared to its average volume of 68,252. DXP Enterprises has a 1 year low of $24.89 and a 1 year high of $49.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 2.57. The firm has a market capitalization of $604.73 million, a P/E ratio of 49.29 and a beta of 2.53.

Several equities research analysts have commented on DXPE shares. BidaskClub lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Zacks Investment Research lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Finally, ValuEngine lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th.

In related news, insider Kent Nee Hung Yee sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $43.35, for a total value of $216,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David C. Vinson sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $48.00, for a total value of $192,000.00. Following the completion of the sale, the vice president now directly owns 6,563 shares of the company’s stock, valued at $315,024. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,000 shares of company stock valued at $2,829,250. Corporate insiders own 9.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of DXPE. Piedmont Investment Advisors LLC bought a new stake in DXP Enterprises in the 2nd quarter valued at about $141,000. SG Americas Securities LLC increased its position in DXP Enterprises by 65.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,684 shares of the industrial products company’s stock valued at $179,000 after buying an additional 1,845 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in DXP Enterprises in the 3rd quarter valued at about $283,000. GSA Capital Partners LLP bought a new stake in DXP Enterprises in the 2nd quarter valued at about $328,000. Finally, Engineers Gate Manager LP bought a new stake in DXP Enterprises in the 2nd quarter valued at about $379,000. 76.63% of the stock is owned by institutional investors and hedge funds.

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DXP Enterprises Company Profile

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates through three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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Earnings History for DXP Enterprises (NASDAQ:DXPE)

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