Catalyst Capital Advisors LLC Increases Stake in Genuine Parts Company (GPC)
Catalyst Capital Advisors LLC raised its stake in Genuine Parts Company (NYSE:GPC) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,380 shares of the specialty retailer’s stock after buying an additional 739 shares during the period. Catalyst Capital Advisors LLC’s holdings in Genuine Parts were worth $3,931,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Pinnacle Bank acquired a new stake in Genuine Parts during the first quarter valued at about $115,000. Global X Management Co. LLC increased its stake in Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 373 shares in the last quarter. Tompkins Financial Corp increased its stake in Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock valued at $186,000 after buying an additional 1,115 shares in the last quarter. Washington Trust Bank increased its stake in Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock valued at $181,000 after buying an additional 1,511 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Genuine Parts during the first quarter valued at about $208,000. Institutional investors own 73.28% of the company’s stock.
Genuine Parts Company (GPC) opened at 82.81 on Friday. Genuine Parts Company has a 52-week low of $80.86 and a 52-week high of $105.18. The firm has a market capitalization of $12.16 billion, a PE ratio of 17.93 and a beta of 1.04. The stock’s 50 day moving average is $85.57 and its 200-day moving average is $91.67.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts expect that Genuine Parts Company will post $4.73 earnings per share for the current year.
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Several research firms have issued reports on GPC. BidaskClub upgraded shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada boosted their price objective on shares of Genuine Parts from $94.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 20th. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $104.00 price objective (up from $98.00) on shares of Genuine Parts in a research note on Saturday, April 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts currently has an average rating of “Hold” and an average price target of $96.86.
Genuine Parts Company Profile
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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