Genuine Parts Company (GPC) : Hamilton Point Investment Advisors scooped up 2,215 additional shares in Genuine Parts Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 27,489 shares of Genuine Parts Company which is valued at $2,790,134.Genuine Parts Company makes up approximately 1.77% of Hamilton Point Investment Advisors’s portfolio.
Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in GPC in the latest quarter, The investment management firm added 7,388 additional shares and now holds a total of 433,764 shares of Genuine Parts Company which is valued at $44,027,046. Genuine Parts Company makes up approx 0.03% of Tiaa Cref Investment Management’s portfolio.Budros Ruhlin Roe reduced its stake in GPC by selling 110 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 7,916 shares of GPC which is valued at $803,474. Genuine Parts Company makes up approx 0.26% of Budros Ruhlin Roe’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in GPC in the latest quarter, The investment management firm added 33,029 additional shares and now holds a total of 199,676 shares of Genuine Parts Company which is valued at $20,307,049. Genuine Parts Company makes up approx 0.06% of State Board Of Administration Of Florida Retirement System’s portfolio.Baker Ellis Asset Management reduced its stake in GPC by selling 133 shares or 0.91% in the most recent quarter. The Hedge Fund company now holds 14,450 shares of GPC which is valued at $1,477,368. Genuine Parts Company makes up approx 0.45% of Baker Ellis Asset Management’s portfolio.
Genuine Parts Company opened for trading at $103 and hit $104.12 on the upside on Tuesday, eventually ending the session at $104.03, with a gain of 1.03% or 1.06 points. The heightened volatility saw the trading volume jump to 6,63,956 shares. Company has a market cap of $15,492 M.
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.
Investors should note that on Aug 15, 2016, Genuine Parts Company announced a cash dividend of $0.6575. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.
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.