JPMorgan Chase & Co. Raises Stock Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

JPMorgan Chase & Co. lifted its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 193.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,044 shares of the industrial products company’s stock after purchasing an additional 64,611 shares during the quarter. JPMorgan Chase & Co. owned 0.62% of DXP Enterprises worth $5,232,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DXPE. Quantbot Technologies LP purchased a new position in shares of DXP Enterprises in the third quarter worth about $41,000. SG Americas Securities LLC bought a new position in shares of DXP Enterprises in the 3rd quarter worth about $197,000. Jane Street Group LLC lifted its holdings in shares of DXP Enterprises by 9.6% during the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 517 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of DXP Enterprises by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 888 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in DXP Enterprises during the 3rd quarter valued at about $1,107,000. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Stock Performance

NASDAQ DXPE opened at $99.40 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 1.78. The stock has a market capitalization of $1.56 billion, a PE ratio of 25.62 and a beta of 1.67. DXP Enterprises, Inc. has a 1-year low of $30.08 and a 1-year high of $102.18. The business has a 50 day simple moving average of $78.67 and a two-hundred day simple moving average of $60.62.

DXP Enterprises (NASDAQ:DXPE) last announced its earnings results on Monday, November 4th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. The firm had revenue of $472.94 million for the quarter. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. During the same quarter in the prior year, the company posted $0.93 earnings per share. On average, research analysts predict that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Insider Activity

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of DXP Enterprises stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $73.10, for a total transaction of $73,100.00. Following the completion of the transaction, the insider now directly owns 29,606 shares of the company’s stock, valued at $2,164,198.60. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DXPE. Stephens lifted their price objective on DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. StockNews.com lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

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).