Atlas Capital Advisors LLC Acquires New Stake in Advance Auto Parts, Inc. (AAP)
Atlas Capital Advisors LLC acquired a new position in Advance Auto Parts, Inc. (NYSE:AAP) during the third quarter, Holdings Channel reports. The fund acquired 2,153 shares of the company’s stock, valued at approximately $361,000.
Other hedge funds have also made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new stake in shares of Advance Auto Parts in the second quarter worth $116,000. Tower Research Capital LLC TRC bought a new stake in shares of Advance Auto Parts in the second quarter worth $117,000. Federated Investors Inc. PA bought a new stake in shares of Advance Auto Parts in the second quarter worth $124,000. ClariVest Asset Management LLC bought a new stake in shares of Advance Auto Parts in the third quarter worth $173,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Advance Auto Parts in the second quarter worth $162,000. 97.62% of the stock is currently owned by institutional investors and hedge funds.
In other Advance Auto Parts news, Director Fiona P. Dias sold 1,048 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $177.54, for a total value of $186,061.92. Following the transaction, the director now directly owns 11,693 shares in the company, valued at $2,075,975.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by insiders.
Shares of AAP opened at $174.67 on Thursday. The firm has a market cap of $12.96 billion, a P/E ratio of 32.53, a PEG ratio of 2.07 and a beta of 1.04. Advance Auto Parts, Inc. has a 1-year low of $88.82 and a 1-year high of $186.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.49 and a current ratio of 1.62.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, November 13th. The company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.14. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.23 billion. Advance Auto Parts had a net margin of 5.83% and a return on equity of 13.99%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 earnings per share. On average, analysts predict that Advance Auto Parts, Inc. will post 7.11 earnings per share for the current year.
Advance Auto Parts declared that its board has approved a stock buyback plan on Tuesday, August 14th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 21st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.14%. Advance Auto Parts’s payout ratio is 4.47%.
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About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.
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