New York State Teachers Retirement System cut its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE – Free Report) by 10.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,420 shares of the industrial products company’s stock after selling 617 shares during the quarter. New York State Teachers Retirement System’s holdings in DXP Enterprises were worth $197,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in DXP Enterprises during the second quarter valued at about $170,000. Louisiana State Employees Retirement System purchased a new stake in DXP Enterprises during the second quarter valued at about $280,000. Counterpoint Mutual Funds LLC purchased a new stake in DXP Enterprises during the second quarter valued at about $85,000. Cambridge Investment Research Advisors Inc. purchased a new stake in DXP Enterprises during the second quarter valued at about $449,000. Finally, Maryland State Retirement & Pension System purchased a new stake in DXP Enterprises during the second quarter valued at about $207,000. 69.09% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on DXPE. StockNews.com began coverage on shares of DXP Enterprises in a research report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Stephens increased their price target on shares of DXP Enterprises from $40.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th.
DXP Enterprises Price Performance
NASDAQ DXPE opened at $32.09 on Friday. The company has a 50 day simple moving average of $34.76 and a 200-day simple moving average of $33.47. DXP Enterprises, Inc. has a 52-week low of $22.06 and a 52-week high of $39.89. The firm has a market capitalization of $536.77 million, a price-to-earnings ratio of 10.52 and a beta of 1.87. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.45 and a quick ratio of 1.94.
DXP Enterprises (NASDAQ:DXPE – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $1.06 EPS for the quarter. DXP Enterprises had a return on equity of 16.33% and a net margin of 3.47%. The firm had revenue of $428.04 million for the quarter. Equities research analysts predict that DXP Enterprises, Inc. will post 3.89 earnings per share for the current fiscal year.
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).
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