Cubic Asset Management Lowers stake in LKQ Corporation (LKQ)

LKQ Corporation (LKQ) : Cubic Asset Management reduced its stake in LKQ Corporation by 8.5% during the most recent quarter end. The investment management company now holds a total of 105,745 shares of LKQ Corporation which is valued at $3,664,064 after selling 9,820 shares in LKQ Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.LKQ Corporation makes up approximately 1.20% of Cubic Asset Management’s portfolio.

Other Hedge Funds, Including , Mawer Investment Management Ltd. boosted its stake in LKQ in the latest quarter, The investment management firm added 8,202 additional shares and now holds a total of 3,237,894 shares of LKQ Corporation which is valued at $112,193,027. LKQ Corporation makes up approx 1.60% of Mawer Investment Management Ltd.’s portfolio.Mizuho Asset Managementltd. boosted its stake in LKQ in the latest quarter, The investment management firm added 2,320 additional shares and now holds a total of 3,941 shares of LKQ Corporation which is valued at $136,556. LKQ Corporation makes up approx 0.02% of Mizuho Asset Managementltd.’s portfolio. Los Angeles Capital Management Equity Research Inc sold out all of its stake in LKQ during the most recent quarter. The investment firm sold 14,499 shares of LKQ which is valued $502,970. New Jersey Better Educational Savings Trust added LKQ to its portfolio by purchasing 18,000 company shares during the most recent quarter which is valued at $627,480. LKQ Corporation makes up approx 0.40% of New Jersey Better Educational Savings Trust’s portfolio.

LKQ Corporation opened for trading at $36.06 and hit $36.269 on the upside on Wednesday, eventually ending the session at $36.22, with a gain of 0.50% or 0.18 points. The heightened volatility saw the trading volume jump to 991,022 shares. Company has a market cap of $11,123 M.

On the company’s financial health, LKQ Corporation reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $2450.69 million for the quarter, compared to analysts expectations of $2413.43 million. The company’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on LKQ Corporation. Susquehanna Initiated LKQ Corporation on Aug 26, 2016 to “Positive”, Price Target of the shares are set at $42.

LKQ Corporation is a distributor of vehicle products including replacement parts components and systems used in the repair and maintenance of vehicles as well as specialty vehicle products and accessories. The company distributes a variety of products to collision and mechanical repair shops including aftermarket collision and mechanical products recycled collision and mechanical products refurbished collision products such as wheels bumper covers and lights and remanufactured engines. It is a provider of alternative vehicle collision replacement products and alternative vehicle mechanical replacement products with its sales processing and distribution facilities reaching markets in the United States and Canada. It also provides alternative vehicle replacement and maintenance products in the United Kingdom and the Benelux region of continental Europe. The Company is organized into four segments: Wholesale – North America; Wholesale – Europe; Self Service and Specialty.

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