Strs Ohio Purchases 3,061 Shares of Genuine Parts Co. (GPC)
Strs Ohio boosted its stake in shares of Genuine Parts Co. (NYSE:GPC) by 40.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,584 shares of the company’s stock after buying an additional 3,061 shares during the period. Strs Ohio’s holdings in Genuine Parts were worth $1,071,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Ngam Advisors L.P. increased its stake in shares of Genuine Parts by 23.7% in the first quarter. Ngam Advisors L.P. now owns 12,549 shares of the company’s stock valued at $1,247,000 after buying an additional 2,408 shares during the period. Teachers Advisors Inc. increased its stake in shares of Genuine Parts by 22.9% in the first quarter. Teachers Advisors Inc. now owns 195,874 shares of the company’s stock valued at $19,462,000 after buying an additional 36,518 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of Genuine Parts during the first quarter valued at about $100,000. Royce & Associates LP increased its stake in shares of Genuine Parts by 21.4% in the first quarter. Royce & Associates LP now owns 127,149 shares of the company’s stock valued at $12,634,000 after buying an additional 22,449 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Genuine Parts by 3.8% in the first quarter. M&T Bank Corp now owns 42,124 shares of the company’s stock valued at $4,185,000 after buying an additional 1,554 shares during the period. Hedge funds and other institutional investors own 71.56% of the company’s stock.
Shares of Genuine Parts Co. (NYSE:GPC) traded up 0.32% during mid-day trading on Friday, reaching $98.01. The company had a trading volume of 352,034 shares. The stock has a market capitalization of $14.59 billion, a P/E ratio of 21.17 and a beta of 0.92. Genuine Parts Co. has a one year low of $76.50 and a one year high of $105.97. The firm has a 50 day moving average of $99.65 and a 200-day moving average of $99.13.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by $0.01. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.97 billion. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. During the same period in the previous year, the company earned $1.28 earnings per share. Analysts forecast that Genuine Parts Co. will post $4.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Wednesday, September 7th. Genuine Parts’s payout ratio is currently 56.68%.
Several research analysts have weighed in on GPC shares. Argus reissued a “buy” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Jefferies Group cut Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 price objective on the stock. in a research report on Friday, July 15th. Wedbush reissued a “neutral” rating and issued a $98.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 20th. Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Gabelli cut Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 price objective on the stock. in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $99.82.
About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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