Connor Clark & Lunn Investment Management Ltd. Sells 11,362 Shares of DXP Enterprises, Inc. (NASDAQ:DXPE)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 28.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,814 shares of the industrial products company’s stock after selling 11,362 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in DXP Enterprises were worth $2,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DXPE. Principal Financial Group Inc. increased its position 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. Global Retirement Partners LLC increased its position in shares of DXP Enterprises by 2,220.0% during the fourth quarter. Global Retirement Partners LLC now owns 348 shares of the industrial products company’s stock valued at $29,000 after buying an additional 333 shares during the period. Smartleaf Asset Management LLC raised its stake in DXP Enterprises by 3,150.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 520 shares of the industrial products company’s stock worth $43,000 after buying an additional 504 shares in the last quarter. Jane Street Group LLC lifted its holdings in DXP Enterprises by 9.6% in the third quarter. Jane Street Group LLC now owns 5,915 shares of the industrial products company’s stock worth $316,000 after buying an additional 517 shares during the period. Finally, Quantbot Technologies LP bought a new stake in DXP Enterprises during the 3rd quarter valued at approximately $41,000. Institutional investors own 74.82% of the company’s stock.

DXP Enterprises Stock Up 1.2 %

Shares of DXPE stock opened at $85.14 on Wednesday. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 21.94 and a beta of 1.66. 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 company’s fifty day moving average price is $94.33 and its 200-day moving average price is $74.44. DXP Enterprises, Inc. has a one year low of $43.25 and a one year high of $107.06.

DXP Enterprises (NASDAQ:DXPE) last posted its quarterly earnings results on Thursday, March 6th. The industrial products company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.49. The company had revenue of $470.91 million for the quarter, compared to analysts’ expectations of $447.00 million. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. Sell-side analysts expect that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DXPE. StockNews.com raised DXP Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Stephens raised their price objective on DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, March 10th.

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).