Amalgamated Bank Has $4.84 Million Position in Genuine Parts (NYSE:GPC)

Amalgamated Bank lessened its holdings in Genuine Parts (NYSE:GPC) by 16.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 34,926 shares of the specialty retailer’s stock after selling 6,808 shares during the quarter. Amalgamated Bank’s holdings in Genuine Parts were worth $4,837,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of Genuine Parts by 71.1% in the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after buying an additional 1,076,361 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Genuine Parts by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after acquiring an additional 367,665 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Genuine Parts by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after purchasing an additional 313,438 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Genuine Parts by 2.0% in the 3rd quarter. Stifel Financial Corp now owns 1,597,765 shares of the specialty retailer’s stock valued at $230,687,000 after purchasing an additional 31,155 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Genuine Parts by 4.3% in the third quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock valued at $215,404,000 after purchasing an additional 61,764 shares in the last quarter. 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 Genuine Parts stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Stock Performance

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

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations 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 was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.14 EPS. On average, analysts forecast that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Wall Street Analyst Weigh In

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

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.