Amalgamated Bank Reduces Stake in Genuine Parts (NYSE:GPC)

Amalgamated Bank lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 16.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,926 shares of the specialty retailer’s stock after selling 6,808 shares during the period. Amalgamated Bank’s holdings in Genuine Parts were worth $4,837,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Summit Global Investments boosted its holdings in shares of Genuine Parts by 5.8% in the 4th quarter. Summit Global Investments now owns 9,391 shares of the specialty retailer’s stock valued at $1,301,000 after buying an additional 515 shares in the last quarter. Silver Lake Advisory LLC lifted its position in Genuine Parts by 15.4% in the fourth quarter. Silver Lake Advisory LLC now owns 29,243 shares of the specialty retailer’s stock valued at $4,050,000 after acquiring an additional 3,911 shares during the last quarter. Mechanics Financial Corp boosted its stake in Genuine Parts by 3.5% in the fourth quarter. Mechanics Financial Corp now owns 2,634 shares of the specialty retailer’s stock valued at $365,000 after acquiring an additional 90 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Genuine Parts by 9.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,455 shares of the specialty retailer’s stock worth $340,000 after purchasing an additional 203 shares during the last quarter. Finally, Heritage Wealth Management LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth about $659,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a filing with the SEC, which is available at this link. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI dropped their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Finally, Truist Financial upped their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $173.10.

Genuine Parts Price Performance

Shares of GPC opened at $154.88 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $153.64 and its two-hundred day moving average is $143.61. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The firm has a market capitalization of $21.57 billion, a PE ratio of 17.27 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 earnings per share. Research analysts anticipate that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Genuine Parts Company 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.