Rowland & Co. Investment Counsel ADV Has $6.37 Million Holdings in Genuine Parts Company (GPC)

Rowland & Co. Investment Counsel ADV grew its position in Genuine Parts Company (NYSE:GPC) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,624 shares of the specialty retailer’s stock after purchasing an additional 4,066 shares during the period. Genuine Parts comprises about 2.7% of Rowland & Co. Investment Counsel ADV’s portfolio, making the stock its 8th largest position. Rowland & Co. Investment Counsel ADV’s holdings in Genuine Parts were worth $6,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 361 Capital LLC acquired a new stake in shares of Genuine Parts during the second quarter worth $1,699,000. Green Square Capital LLC raised its holdings in shares of Genuine Parts by 17.2% during the second quarter. Green Square Capital LLC now owns 4,506 shares of the specialty retailer’s stock worth $421,000 after acquiring an additional 660 shares during the period. State Street Corp raised its holdings in shares of Genuine Parts by 0.7% during the second quarter. State Street Corp now owns 8,733,760 shares of the specialty retailer’s stock worth $810,144,000 after acquiring an additional 61,398 shares during the period. Peapack Gladstone Financial Corp raised its holdings in shares of Genuine Parts by 13.5% during the second quarter. Peapack Gladstone Financial Corp now owns 28,012 shares of the specialty retailer’s stock worth $2,598,000 after acquiring an additional 3,322 shares during the period. Finally, Colonial Trust Advisors acquired a new stake in shares of Genuine Parts during the second quarter worth $232,000. Institutional investors own 74.43% of the company’s stock.

Shares of Genuine Parts Company (NYSE GPC) traded down 0.225% during midday trading on Monday, hitting $95.335. 165,844 shares of the company were exchanged. The firm’s 50 day moving average price is $87.63 and its 200 day moving average price is $89.05. Genuine Parts Company has a one year low of $79.86 and a one year high of $100.90. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of 20.640 and a beta of 1.10.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.02). Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm earned $1.28 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that Genuine Parts Company will post $4.73 EPS for the current fiscal year.

Genuine Parts declared that its board has authorized a stock buyback program on Monday, August 21st that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a dividend of $0.675 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.70 annualized dividend and a yield of 2.83%. Genuine Parts’s payout ratio is 58.32%.

GPC has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Friday, July 21st. Finally, Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $96.33.

TRADEMARK VIOLATION WARNING: “Rowland & Co. Investment Counsel ADV Has $6.37 Million Holdings in Genuine Parts Company (GPC)” was reported by The Ledger Gazette and is the property of of The Ledger Gazet

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 361 Capital LLC acquired a new stake in shares of Genuine Parts during the second quarter worth $1,699,000. Green Square Capital LLC raised its holdings in shares of Genuine Parts by 17.2% during the second quarter. Green Square Capital LLC now owns 4,506 shares of the specialty retailer’s stock worth $421,000 after acquiring an additional 660 shares during the period. State Street Corp raised its holdings in shares of Genuine Parts by 0.7% during the second quarter. State Street Corp now owns 8,733,760 shares of the specialty retailer’s stock worth $810,144,000 after acquiring an additional 61,398 shares during the period. Peapack Gladstone Financial Corp raised its holdings in shares of Genuine Parts by 13.5% during the second quarter. Peapack Gladstone Financial Corp now owns 28,012 shares of the specialty retailer’s stock worth $2,598,000 after acquiring an additional 3,322 shares during the period. Finally, Colonial Trust Advisors acquired a new stake in shares of Genuine Parts during the second quarter worth $232,000. Institutional investors own 74.43% of the company’s stock.

Shares of Genuine Parts Company (NYSE GPC) traded down 0.225% during midday trading on Monday, hitting $95.335. 165,844 shares of the company were exchanged. The firm’s 50 day moving average price is $87.63 and its 200 day moving average price is $89.05. Genuine Parts Company has a one year low of $79.86 and a one year high of $100.90. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of 20.640 and a beta of 1.10.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.02). Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm earned $1.28 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that Genuine Parts Company will post $4.73 EPS for the current fiscal year.

Genuine Parts declared that its board has authorized a stock buyback program on Monday, August 21st that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a dividend of $0.675 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.70 annualized dividend and a yield of 2.83%. Genuine Parts’s payout ratio is 58.32%.

GPC has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Friday, July 21st. Finally, Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $96.33.

TRADEMARK VIOLATION WARNING: “Rowland & Co. Investment Counsel ADV Has $6.37 Million Holdings in Genuine Parts Company (GPC)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://ledgergazette.com/2017/10/09/rowland-co-investment-counsel-adv-has-6-37-million-holdings-in-genuine-parts-company-gpc.html.

Genuine Parts Profile

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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