Genuine Parts (NYSE:GPC) Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its position in Genuine Parts (NYSE:GPC) by 26.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,809 shares of the specialty retailer’s stock after purchasing an additional 7,799 shares during the period. Amalgamated Bank’s holdings in Genuine Parts were worth $5,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in shares of Genuine Parts by 0.6% in the 4th quarter. Brown Advisory Inc. now owns 19,812 shares of the specialty retailer’s stock valued at $2,744,000 after purchasing an additional 110 shares in the last quarter. Assetmark Inc. increased its position in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Genuine Parts by 7.0% during the 4th quarter. Franklin Resources Inc. now owns 83,808 shares of the specialty retailer’s stock worth $11,607,000 after buying an additional 5,493 shares during the period. ProVise Management Group LLC lifted its position in shares of Genuine Parts by 9.3% during the 4th quarter. ProVise Management Group LLC now owns 17,706 shares of the specialty retailer’s stock valued at $2,452,000 after buying an additional 1,511 shares in the last quarter. Finally, Nixon Peabody Trust Co. grew its stake in Genuine Parts by 161.8% in the 4th quarter. Nixon Peabody Trust Co. now owns 4,320 shares of the specialty retailer’s stock valued at $598,000 after acquiring an additional 2,670 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 1.5 %

GPC stock opened at $137.02 on Friday. The firm has a market cap of $19.09 billion, a PE ratio of 15.28 and a beta of 0.90. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. 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 firm’s 50 day moving average price is $139.76 and its 200-day moving average price is $145.41.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the company earned $2.44 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.92%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Evercore ISI lowered their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. UBS Group reduced their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group reduced their price objective on Genuine Parts from $166.00 to $162.00 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.