Cacti Asset Management buys $24,848,566 stake in Genuine Parts Company (GPC)

Genuine Parts Company (GPC) : Cacti Asset Management scooped up 3,100 additional shares in Genuine Parts Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 3, 2016. The investment management firm now holds a total of 251,224 shares of Genuine Parts Company which is valued at $24,848,566.Genuine Parts Company makes up approximately 2.53% of Cacti Asset Management’s portfolio.

Other Hedge Funds, Including , Bath Savings Trust Co reduced its stake in GPC by selling 50 shares or 0.85% in the most recent quarter. The Hedge Fund company now holds 5,865 shares of GPC which is valued at $580,107. Genuine Parts Company makes up approx 0.18% of Bath Savings Trust Co’s portfolio.

Genuine Parts Company closed down -1.44 points or -1.44% at $98.39 with 4,82,095 shares getting traded on Tuesday. Post opening the session at $99.73, the shares hit an intraday low of $98.05 and an intraday high of $100.34 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Genuine Parts Company reported $1.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $1.29. The company had revenue of $3899.60 million for the quarter, compared to analysts expectations of $3975.85 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on Genuine Parts Company. Susquehanna Initiated Genuine Parts Company on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $102.Genuine Parts Company was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Gabelli & Co Downgraded Genuine Parts Company on Jul 14, 2016 to ” Hold”, Price Target of the shares are set at $106.

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 operates through four segments: Automotive Parts Group which distributes automotive parts and accessory items; Industrial Parts Group which distributes industrial replacement parts and related supplies; Office Products Group which is engaged in the wholesale distribution of a line of office and other business related products and Electrical/Electronic Materials Group which distributes materials to more than 20000 electrical and electronic manufacturers as well as industrial assembly and specialty wire and cable markets in North America. In 2014 the Company’s business was conducted from approximately 2600 locations throughout the United States Canada Mexico Australia and New Zealand.

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