DXP Enterprises (NASDAQ:DXPE) Trading Down 9.5% – Here’s Why

DXP Enterprises, Inc. (NASDAQ:DXPE) shares traded down 9.5% during trading on Thursday . The company traded as low as $94.41 and last traded at $93.17. 69,039 shares changed hands during trading, a decline of 75% from the average session volume of 279,410 shares. The stock had previously closed at $102.91.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Stephens raised their price objective on shares of DXP Enterprises from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th.

DXP Enterprises Trading Down 5.3 %

The company has a quick ratio of 1.78, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. The company’s fifty day moving average price is $93.13 and its two-hundred day moving average price is $69.80. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 23.17 and a beta of 1.67.

Insider Activity

In other 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On DXP Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in DXPE. Wellington Management Group LLP acquired a new stake in shares of DXP Enterprises during the fourth quarter worth $67,901,000. FMR LLC raised its holdings in shares of DXP Enterprises by 21.8% during the third quarter. FMR LLC now owns 776,950 shares of the industrial products company’s stock worth $41,458,000 after acquiring an additional 139,027 shares during the period. Pacer Advisors Inc. raised its holdings in shares of DXP Enterprises by 4.1% during the third quarter. Pacer Advisors Inc. now owns 744,587 shares of the industrial products company’s stock worth $39,731,000 after acquiring an additional 29,131 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of DXP Enterprises by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company’s stock worth $59,513,000 after acquiring an additional 38,900 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of DXP Enterprises by 10.2% during the fourth quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company’s stock worth $18,915,000 after acquiring an additional 21,220 shares during the period. 74.82% of the stock is owned by institutional investors.

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).