Genuine Parts Company (GPC) : Cacti Asset Management reduced its stake in Genuine Parts Company by 0.24% during the most recent quarter end. The investment management company now holds a total of 248,124 shares of Genuine Parts Company which is valued at $25,343,385 after selling 600 shares in Genuine Parts Company , the firm said in a disclosure report filed with the SEC on Jul 1, 2016.Genuine Parts Company makes up approximately 2.75% of Cacti Asset Management’s portfolio.
Genuine Parts Company opened for trading at $100.99 and hit $102.47 on the upside on Friday, eventually ending the session at $102.14, with a gain of 0.88% or 0.89 points. The heightened volatility saw the trading volume jump to 7,62,250 shares. Company has a market cap of $15,283 M.
On the company’s financial health, Genuine Parts Company reported $1.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.03. The company had revenue of $3718.30 million for the quarter, compared to analysts expectations of $3719.75 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.05 EPS.
Many Wall Street Analysts have commented on Genuine Parts Company. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 93 from a previous price target of $90 .Genuine Parts Company was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 4, 2016.
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.