5,500 Shares in Genuine Parts (NYSE:GPC) Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC acquired a new stake in Genuine Parts (NYSE:GPC) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 5,500 shares of the specialty retailer’s stock, valued at approximately $761,000.

Several other hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC lifted its holdings in Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Genuine Parts by 8.5% in the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after buying an additional 70 shares during the last quarter. CHICAGO TRUST Co NA grew its position in Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after buying an additional 71 shares during the period. First Citizens Bank & Trust Co. increased its holdings in Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its stake in Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC opened at $141.24 on Monday. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The stock’s 50-day simple moving average is $139.60 and its 200 day simple moving average is $144.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock has a market capitalization of $19.67 billion, a price-to-earnings ratio of 15.75 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts forecast that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GPC. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. UBS Group cut their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. The Goldman Sachs Group decreased their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI dropped their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Finally, Wedbush reduced their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.