DXP Enterprises, Inc. Buyback
OLI recorded this information on 12/17/2014
DXP Enterprises, Inc.
Share Amount Authorized:
DXP Enterprises, Inc. (NASDAQ:DXPE) today announces DXP's Board of Directors authorized the repurchase of up to 400,000 shares of DXP's common stock. Under the authorization, the Company from time to time, over the next 24 months, would repurchase shares in the open market or through privately negotiated transactions depending on market conditions and other relevant factors. The primary purpose of the share repurchase plan is to offset potential dilution from shares issued under DXP's Restricted Stock Plan. The repurchase plan which was authorized in May, 2014 has been completed.
DXP Enterprises is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to energy and industrial customers. Co.'s segments include: Service Centers, which is engaged in providing MRO products, equipment and integrated services, including technical expertise and logistics capabilities, to energy and industrial customers with the ability to provide same day delivery; Supply Chain Services; which manages all or part of its customers' supply chains, including procurement and inventory management; and Innovative Pumping Solutions, which provides custom pump skid packages, pump remanufacturing and manufactures branded private label pumps.
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Strong Buy (4.00 out of 4)