Principal Financial Group Inc. Buys 178 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

Principal Financial Group Inc. raised its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 0.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,997 shares of the industrial products company’s stock after buying an additional 178 shares during the quarter. Principal Financial Group Inc. owned about 0.44% of DXP Enterprises worth $3,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DXPE. FMR LLC boosted its holdings in DXP Enterprises by 21.8% in the 3rd quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock valued at $41,458,000 after purchasing an additional 139,027 shares during the period. Pacer Advisors Inc. raised its position in shares of DXP Enterprises by 4.1% in the third quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company’s stock worth $39,731,000 after buying an additional 29,131 shares in the last quarter. Renaissance Technologies LLC boosted its stake 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 buying an additional 61,900 shares during the period. Acadian Asset Management LLC grew its position in DXP Enterprises by 5.5% during the second quarter. Acadian Asset Management LLC now owns 101,058 shares of the industrial products company’s stock worth $4,630,000 after buying an additional 5,311 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of DXP Enterprises by 63.1% in the 2nd quarter. LSV Asset Management now owns 90,495 shares of the industrial products company’s stock valued at $4,148,000 after acquiring an additional 35,011 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors.

DXP Enterprises Price Performance

Shares of DXP Enterprises stock opened at $84.39 on Friday. The firm has a market capitalization of $1.32 billion, a PE ratio of 21.75 and a beta of 1.70. 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, Inc. has a 12 month low of $30.08 and a 12 month high of $86.50. The business’s 50-day moving average price is $71.69 and its 200-day moving average price is $57.64.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The business had revenue of $472.94 million for the quarter. During the same quarter in the previous year, the business earned $0.93 earnings per share. Sell-side analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other DXP Enterprises news, insider Christopher T. Gregory sold 1,000 shares of DXP Enterprises stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $73.10, for a total value of $73,100.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DXPE has been the subject of several recent analyst reports. Stephens boosted 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 cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note 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).