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Dxp enterprises CIO sells shares worth $73,095

Published 05/12/2024, 22:10
DXPE
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Gregory Christopher T, the Chief Information Officer of DXP Enterprises Inc. (NASDAQ:DXPE), recently sold shares of the company amid the stock's remarkable 140% surge over the past year. According to a filing with the Securities and Exchange Commission, Christopher sold a total of 1,000 shares on December 3rd. InvestingPro data shows the stock trading near its 52-week high, with technical indicators suggesting overbought conditions. The shares were sold at prices ranging from $73.00 to $73.39, amounting to a total transaction value of $73,095. Following these transactions, Christopher holds 29,606 shares in the company. With DXP Enterprises showing a GREAT financial health score according to InvestingPro, investors can access 10+ additional exclusive insights and a comprehensive Pro Research Report to better understand this $1.18B market cap company's potential.

In other recent news, DXP Enterprises Inc. showcased a strong Q3 performance for fiscal year 2024, reporting a 12.8% rise in total sales to $472.9 million. The company's Innovative Pumping Solutions (IPS) segment led this surge with a 52.3% increase in sales. Earnings per diluted share also saw a substantial rise to $1.27 from the previous year's $0.93. The company highlighted its successful acquisition strategy, having completed seven acquisitions this year and planning for two more by the end of Q1 2025.

In recent developments, DXP Enterprises' Service Centers saw a 7.6% year-over-year sales growth, while the Water segment now makes up 45% of IPS sales, a significant increase from 31% last year. The company anticipates sustained growth in the energy and water markets, and is focused on maintaining double-digit EBITDA margins.

Despite the flat growth year-over-year in Supply Chain Services, DXP Enterprises remains confident about its future, with CEO David Little expressing belief in outgrowing the market and CFO Kent Yee highlighting the successful execution of the company's acquisition strategy. These recent developments suggest the company is well-positioned for continued growth and profitability.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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