DXP Enterprises, Inc. (NASDAQ:DXPE) Short Interest Up 7.0% in December

DXP Enterprises, Inc. (NASDAQ:DXPE) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 693,900 shares, a growth of 7.0% from the November 30th total of 648,500 shares. Based on an average daily volume of 156,500 shares, the days-to-cover ratio is currently 4.4 days. Currently, 5.5% of the company’s stock are short sold.

Insider Transactions at DXP Enterprises

In other news, insider Christopher T. Gregory sold 1,000 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On DXP Enterprises

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of DXP Enterprises by 193.3% in the third quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock valued at $5,232,000 after acquiring an additional 64,611 shares in the last quarter. Principal Financial Group Inc. raised its stake in DXP Enterprises by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 68,997 shares of the industrial products company’s stock valued at $3,682,000 after purchasing an additional 178 shares during the period. 272 Capital LP purchased a new position in DXP Enterprises in the 3rd quarter worth approximately $1,380,000. Barclays PLC boosted its stake in DXP Enterprises by 355.4% in the 3rd quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock worth $1,267,000 after purchasing an additional 18,514 shares during the period. Finally, Jane Street Group LLC grew its holdings in DXP Enterprises by 9.6% during the 3rd quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock valued at $316,000 after buying an additional 517 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors.

DXP Enterprises Stock Up 0.5 %

Shares of DXPE stock opened at $83.00 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.78 and a debt-to-equity ratio of 1.29. DXP Enterprises has a 12 month low of $30.08 and a 12 month high of $83.50. The stock has a market cap of $1.30 billion, a P/E ratio of 21.39 and a beta of 1.70. The company has a 50 day simple moving average of $70.99 and a two-hundred day simple moving average of $57.45.

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

Wall Street Analysts Forecast Growth

DXPE has been the subject of a number of research analyst reports. Stephens lifted their target price on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com lowered DXP Enterprises from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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).