Assenagon Asset Management S.A. Decreases Stock Holdings in DXP Enterprises, Inc. (NASDAQ:DXPE)

Assenagon Asset Management S.A. reduced its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,904 shares of the industrial products company’s stock after selling 4,954 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.31% of DXP Enterprises worth $3,958,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of DXP Enterprises during the 3rd quarter worth $41,000. SG Americas Securities LLC purchased a new stake in shares of DXP Enterprises during the 3rd quarter worth $197,000. Jane Street Group LLC lifted its stake in shares of 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 worth $316,000 after purchasing an additional 517 shares during the last quarter. Federated Hermes Inc. raised its stake in DXP Enterprises by 8.8% in the second quarter. Federated Hermes Inc. now owns 10,962 shares of the industrial products company’s stock valued at $502,000 after buying an additional 888 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in DXP Enterprises in the third quarter valued at about $1,107,000. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at DXP Enterprises

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

DXP Enterprises Trading Up 3.3 %

DXP Enterprises stock opened at $102.67 on Tuesday. DXP Enterprises, Inc. has a one year low of $31.10 and a one year high of $103.61. The stock has a market cap of $1.61 billion, a PE ratio of 26.46 and a beta of 1.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The stock has a 50-day moving average of $79.94 and a two-hundred day moving average of $61.66.

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, 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 during the quarter. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, research analysts anticipate that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

DXP Enterprises 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).