Panagora Asset Management Inc. Sells 22,175 Shares of DXP Enterprises Inc (NASDAQ:DXPE)

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Panagora Asset Management Inc. lessened its holdings in shares of DXP Enterprises Inc (NASDAQ:DXPE) by 50.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,902 shares of the industrial products company’s stock after selling 22,175 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.12% of DXP Enterprises worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Texas Permanent School Fund raised its holdings in DXP Enterprises by 3.8% in the first quarter. Texas Permanent School Fund now owns 10,856 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 393 shares in the last quarter. Comerica Bank raised its holdings in DXP Enterprises by 2.9% in the first quarter. Comerica Bank now owns 15,789 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 452 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in DXP Enterprises by 192.3% in the second quarter. Nisa Investment Advisors LLC now owns 760 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 500 shares in the last quarter. Swiss National Bank raised its holdings in DXP Enterprises by 2.0% in the second quarter. Swiss National Bank now owns 31,000 shares of the industrial products company’s stock worth $1,175,000 after purchasing an additional 600 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in DXP Enterprises by 1.5% in the first quarter. Rice Hall James & Associates LLC now owns 43,614 shares of the industrial products company’s stock worth $1,697,000 after purchasing an additional 647 shares in the last quarter. Institutional investors own 79.64% of the company’s stock.

Shares of NASDAQ:DXPE traded down $0.23 on Thursday, hitting $31.67. 37,884 shares of the company traded hands, compared to its average volume of 74,990. DXP Enterprises Inc has a 52 week low of $26.95 and a 52 week high of $49.15. The company has a quick ratio of 1.75, a current ratio of 2.56 and a debt-to-equity ratio of 0.87. The stock has a 50 day simple moving average of $33.33 and a 200-day simple moving average of $36.60. The company has a market cap of $579.46 million, a PE ratio of 16.32, a PEG ratio of 0.79 and a beta of 2.65.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. DXP Enterprises had a return on equity of 12.86% and a net margin of 3.19%. The firm had revenue of $333.30 million during the quarter, compared to the consensus estimate of $331.07 million. During the same period last year, the company earned $0.61 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that DXP Enterprises Inc will post 2.39 earnings per share for the current year.

A number of equities analysts have issued reports on the company. Stephens set a $47.00 price objective on DXP Enterprises and gave the stock a “buy” rating in a report on Wednesday, May 8th. Jefferies Financial Group assumed coverage on DXP Enterprises in a report on Thursday, April 25th. They issued a “hold” rating and a $47.00 price objective for the company. TheStreet downgraded DXP Enterprises from a “b” rating to a “c+” rating in a report on Wednesday, May 15th. Sidoti downgraded DXP Enterprises from a “buy” rating to a “neutral” rating in a report on Thursday, July 11th. Finally, Zacks Investment Research downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.00.

DXP Enterprises Company Profile

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

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Institutional Ownership by Quarter for DXP Enterprises (NASDAQ:DXPE)

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