Lord Abbett & CO. LLC lowered its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 63.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,586 shares of the industrial products company’s stock after selling 150,845 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.50% of DXP Enterprises worth $3,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DXPE. Oppenheimer Asset Management Inc. raised its holdings in DXP Enterprises by 8.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 219 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in DXP Enterprises by 78.9% during the second quarter. State of Alaska Department of Revenue now owns 3,059 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,349 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in DXP Enterprises by 3.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 110 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in DXP Enterprises during the second quarter worth approximately $152,000. Finally, BNP Paribas Arbitrage SA raised its holdings in DXP Enterprises by 63.1% during the second quarter. BNP Paribas Arbitrage SA now owns 5,688 shares of the industrial products company’s stock worth $196,000 after purchasing an additional 2,201 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.

Shares of DXP Enterprises, Inc. (NASDAQ:DXPE) opened at 32.07 on Wednesday. The firm has a market cap of $558.05 million, a PE ratio of 37.29 and a beta of 2.66. The firm’s 50-day moving average is $31.23 and its 200-day moving average is $32.59. DXP Enterprises, Inc. has a 12-month low of $20.57 and a 12-month high of $42.00.

A number of research firms have weighed in on DXPE. Zacks Investment Research cut shares of DXP Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub cut shares of DXP Enterprises from a “sell” rating to a “strong sell” rating in a report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.00.

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DXP Enterprises Company Profile

DXP Enterprises, Inc (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company operates through three segments: Service Centers, Supply Chain Services and Innovative Pumping Solutions. The Service Centers segment provides MRO products, equipment and services, including technical expertise and logistics capabilities to industrial customers.

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

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